Safe & Green Holdings Enters Definitive Agreement to Merge with Olenox and Machfu.com
Safe & Green Holdings (NASDAQ: SGBX) has entered a definitive merger agreement with New Asia Holdings, acquiring Olenox Corp and Machfu.com through an all-stock transaction using non-voting convertible preferred shares.
Olenox operates three business units in Oil & Gas Production, Energy Services, and Energy Technologies, specializing in revitalizing underdeveloped energy assets in Texas, Oklahoma, and Kansas using proprietary plasma pulse and ultrasonic cleaning tools.
Machfu, with over 20,000 gateways deployed globally, provides industrial IoT solutions through its MachGateway® and Edge-to-Enterprise™ software, connecting legacy systems with modern digital infrastructure.
The merger aims to integrate Olenox's energy assets and Machfu's IoT capabilities with Safe & Green's modular fabrication expertise. The deal's completion requires approval from majority shareholders, Nasdaq, and regulatory authorities.
Safe & Green Holdings (NASDAQ: SGBX) ha stipulato un accordo di fusione definitivo con New Asia Holdings, acquisendo Olenox Corp e Machfu.com attraverso una transazione totalmente azionaria utilizzando azioni preferenziali convertibili non votanti.
Olenox gestisce tre unità operative nel settore della Produzione di Petrolio e Gas, Servizi Energetici e Tecnologie Energetiche, specializzandosi nel rilancio di asset energetici sottosviluppati in Texas, Oklahoma e Kansas, utilizzando strumenti proprietari di pulizia a impulso plasma e ultrasonico.
Machfu, con oltre 20.000 gateway distribuiti a livello globale, fornisce soluzioni IoT industriali attraverso il suo software MachGateway® e Edge-to-Enterprise™, che collega sistemi legacy con infrastrutture digitali moderne.
La fusione mira a integrare gli asset energetici di Olenox e le capacità IoT di Machfu con l'expertise di Safe & Green nella fabbrica modulare. Il completamento dell'accordo richiede l'approvazione dalla maggioranza degli azionisti, da Nasdaq e dalle autorità di regolamentazione.
Safe & Green Holdings (NASDAQ: SGBX) ha entrado en un acuerdo de fusión definitivo con New Asia Holdings, adquiriendo Olenox Corp y Machfu.com a través de una transacción completamente en acciones usando acciones preferentes convertibles no votantes.
Olenox opera tres unidades de negocio en Producción de Petróleo y Gas, Servicios Energéticos y Tecnologías Energéticas, especializándose en revitalizar activos energéticos subdesarrollados en Texas, Oklahoma y Kansas utilizando herramientas de limpieza a pulso de plasma y ultrasonido de propiedad.
Machfu, con más de 20,000 gateways desplegados globalmente, ofrece soluciones IoT industriales a través de su software MachGateway® y Edge-to-Enterprise™, conectando sistemas heredados con infraestructura digital moderna.
El objetivo de la fusión es integrar los activos energéticos de Olenox y las capacidades IoT de Machfu con la experiencia en fabricación modular de Safe & Green. La finalización del acuerdo requiere la aprobación de la mayoría de los accionistas, Nasdaq y las autoridades regulatorias.
Safe & Green Holdings (NASDAQ: SGBX)가 New Asia Holdings와 최종 합병 계약을 체결하고 Olenox Corp와 Machfu.com를 비의결형 전환 우선주를 통한 전액 주식 거래 방식으로 인수했습니다.
Olenox는 텍사스, 오클라호마, 캔자스에 있는 개발이 덜 된 에너지 자산을 특허 받은 플라즈마 펄스 및 초음파 청소 도구를 사용해 revitalizing 하는 석유 및 가스 생산, 에너지 서비스 및 에너지 기술의 세 가지 사업 부문을 운영하고 있습니다.
Machfu는 전 세계에 20,000개 이상의 게이트웨이를 배포하고 있으며, MachGateway® 및 Edge-to-Enterprise™ 소프트웨어를 통해 산업 IoT 솔루션을 제공하고 있으며, 전통적인 시스템을 현대 디지털 인프라와 연결합니다.
이번 합병은 Olenox의 에너지 자산과 Machfu의 IoT 역량을 Safe & Green의 모듈화 제작 전문성과 통합하는 것을 목표로 합니다. 거래 완료에는 대주주의 승인, 나스닥 및 규제 당국의 승인이 필요합니다.
Safe & Green Holdings (NASDAQ: SGBX) a conclu un accord de fusion définitif avec New Asia Holdings, acquérant Olenox Corp et Machfu.com par le biais d'une transaction entièrement en actions utilisant des actions préférentielles convertibles non votantes.
Olenox exploite trois unités commerciales dans la production de pétrole et de gaz, les services énergétiques et les technologies énergétiques, se spécialisant dans la revitalisation d'actifs énergétiques sous-développés au Texas, en Oklahoma et au Kansas en utilisant des outils de nettoyage à impulsion plasma et ultrasonique propriétaires.
Machfu, avec plus de 20 000 passerelles déployées à l'échelle mondiale, fournit des solutions IoT industrielles par le biais de son logiciel MachGateway® et Edge-to-Enterprise™, reliant des systèmes hérités à une infrastructure numérique moderne.
La fusion vise à intégrer les actifs énergétiques d'Olenox et les capacités IoT de Machfu avec l'expertise de fabrication modulaire de Safe & Green. L'achèvement de l'accord nécessite l'approbation des principaux actionnaires, du Nasdaq et des autorités de régulation.
Safe & Green Holdings (NASDAQ: SGBX) hat eine verbindliche Fusionsvereinbarung mit New Asia Holdings abgeschlossen und Olenox Corp sowie Machfu.com durch eine reine Aktien-Transaktion unter Verwendung von nicht stimmberechtigten wandelbaren Vorzugsaktien erworben.
Olenox betreibt drei Geschäftseinheiten in der Öl- und Gasproduktion, Energiedienstleistungen und Energietechnologien, die sich auf die Wiederbelebung unterentwickelter Energieanlagen in Texas, Oklahoma und Kansas spezialisiert haben, unter Verwendung proprietärer Plasma-Puls- und Ultraschallreinigungswerkzeuge.
Machfu bietet über 20.000 weltweit installierte Gateways industrielle IoT-Lösungen über seine Software MachGateway® und Edge-to-Enterprise™ an, die traditionelle Systeme mit moderner digitaler Infrastruktur verbindet.
Das Ziel der Fusion ist es, die Energieanlagen von Olenox und die IoT-Fähigkeiten von Machfu mit der Modularfertigungsexpertise von Safe & Green zu integrieren. Der Abschluss des Deals erfordert die Genehmigung durch die Mehrheit der Aktionäre, Nasdaq und die Regulierungsbehörden.
- Acquisition expands into energy and IoT sectors, diversifying revenue streams
- Access to Machfu's established market with 20,000+ deployed gateways
- Integration potential with existing Durant, Oklahoma facility
- No cash expenditure due to all-stock transaction structure
- Potential shareholder dilution from convertible preferred shares issuance
- Transaction subject to multiple approval requirements
- Integration risks between three distinct business models
Insights
This transformative merger represents a strategic repositioning for Safe & Green Holdings, expanding beyond its core modular construction business into the lucrative energy and industrial IoT sectors. The transaction structure, utilizing non-voting convertible preferred shares, preserves cash while providing flexibility in the integration process.
The merger brings together three complementary business segments:
- SGBX's modular construction expertise and existing infrastructure
- Olenox's energy assets and proprietary technology for enhancing oil & gas production
- Machfu's established IoT platform with 20,000+ deployed gateways
The strategic rationale is compelling, particularly in leveraging Machfu's Edge-to-Enterprise™ technology to modernize energy operations. The existing Waldron facility in Durant, Oklahoma, provides a strategic geographic advantage for servicing Olenox's oil and gas assets in the tri-state region.
Key considerations for investors:
- The two-step transaction structure requires shareholder and regulatory approval, introducing execution risk
- Integration of three distinct business models will be complex and require careful management
- Potential for significant revenue synergies through cross-selling and operational efficiencies
- Enhanced market positioning in the growing industrial IoT sector, estimated to reach $1.3 trillion by 2032
The merger positions SGBX at the intersection of sustainable construction, energy optimization and industrial automation - three high-growth sectors with significant cross-pollination opportunities. However, successful integration and realization of synergies will be important for creating shareholder value.
The technological synergies in this merger are particularly noteworthy. Machfu's MachGateway® platform, with its proven track record of 20,000+ deployments, provides a robust foundation for digital transformation initiatives. The platform's ability to bridge legacy systems with modern infrastructure addresses a critical challenge in industrial automation.
Key technological advantages:
- Seamless integration of legacy industrial systems with modern cloud infrastructure
- Real-time analytics and predictive maintenance capabilities
- Olenox's proprietary plasma pulse and ultrasonic cleaning technologies
- Potential for smart, IoT-enabled modular construction solutions
The combination creates opportunities for innovative applications:
- Smart energy management systems for modular buildings
- Automated monitoring and optimization of oil & gas assets
- Integrated facility management solutions
- Data-driven decision making across operations
The merger positions SGBX to capitalize on the growing demand for smart industrial solutions while addressing the critical need for sustainable energy management. The technology stack acquired through this merger provides a competitive edge in both traditional and emerging markets.
Strategic Combination Poised to Drive Innovation in Energy and Industrial IoT
MIAMI, FL, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with New Asia Holdings, Inc. (“NAHD”), which owns Olenox Corp. (“Olenox”) and Machfu.com (“Machfu”), which are both innovative leaders in the energy and industrial IoT sectors.
Under the terms of the agreement, Safe & Green will acquire
Olenox is an advanced energy company with three vertically integrated business units: Oil & Gas Production, Energy Services, and Energy Technologies. The company specializes in acquiring and revitalizing underdeveloped energy assets, leveraging proprietary plasma pulse and ultrasonic cleaning tools to enhance production efficiency while reducing environmental impact. Olenox’s strategic focus on distressed oil and gas fields in Texas, Oklahoma, and Kansas has resulted in significant production growth, positioning the Company for long-term success in the energy sector.
Machfu is a leader in industrial IoT, with its flagship MachGateway® and Edge-to-Enterprise™ software solutions enabling seamless connectivity between legacy systems and modern digital infrastructure. With over 20,000 gateways deployed worldwide, Machfu’s technology enhances operational efficiency, predictive maintenance, and real-time analytics for industries including oil & gas, utilities, and manufacturing.
Following the merger, Safe & Green plans to integrate Olenox’s energy assets and Machfu’s IoT capabilities with its existing operations. The Company will leverage its modular fabrication expertise and existing infrastructure, including its Waldron facility in Durant, Oklahoma, to support new initiatives in sustainable energy and industrial automation. Management anticipates that these synergies will drive revenue growth, improve operational efficiencies, and create new opportunities for value creation.
“We believe that the combination of Olenox and Machfu with Safe & Green will create a diversified, high-growth company at the intersection of energy and technology,” said Michael McLaren, CEO of Safe & Green and founder of Olenox. “Olenox’s growing oil and gas portfolio, combined with Machfu’s cutting-edge IoT solutions, will provide a robust foundation for expansion into sustainable energy, automation, and digital transformation.”
The merger is structured as a two-step sign-and-close transaction. The conversion of the shares of preferred stock issued to NAHD shareholders into shares of common stock of the Company is subject to the approval of a majority of the Company’s common shareholders, approval by Nasdaq, and regulatory approvals. Further details regarding the transaction are available in the Company’s Form 8-K, which has been filed with the Securities and Exchange Commission.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions company, operates under core capabilities which include the development, design, and fabrication of modular structures, meeting the demand for safe and green solutions across various industries. The firm supports third-party and in-house developers, architects, builders, and owners in achieving faster execution, greener construction, and buildings of higher value. For more information, visit https://www.safeandgreenholdings.com/ and follow us at @SGHcorp on Twitter.
No Offer or Solicitation
This communication is for informational purposes only and is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the Company’s Merger Agreement with NAHD,, closing of such merger, the Company’s plans to leverage its existing facilities to support the combined company’s operations in the oil and gas industries. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully complete the merger with NAHD, the timing to consummate the proposed acquisition, the diversion of management time on transaction-related issues, unexpected costs, charges or expenses resulting from the acquisition, potential litigation relating to the acquisition that could be instituted against the parties to Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, the Company’s ability to successfully leverage its existing facilities to support its planned new operations for the combined entity in the oil and gas industries, the effect of government regulation, the Company’s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
Investor Relations:
Crescendo Communications, LLC
(212) 671-1020
sgbx@crescendo-ir.com
FAQ
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