SG Blocks Announces Name Change to Safe & Green Holdings Corp.

Rhea-AI Summary

Safe & Green Holdings Corp. (NASDAQ: SGBX) has officially rebranded from SG Blocks, Inc. to better reflect its mission as a leading developer of sustainable modular structures. The change includes a new logo and branding elements, while trading will continue under the existing ticker symbol SGBX. CEO Paul Galvin highlighted the importance of this evolution for enhancing long-term shareholder value and advancing various strategic initiatives. Founded in 2007, the company focuses on innovative building practices and meets the growing demand for green construction solutions across industries.

Positive

• Rebranding enhances company image and aligns with sustainability goals.
• Focus on long-term shareholder value and strategic initiatives.
• Established leadership in modular solutions and green construction.

Negative

• Financial performance is contingent on successful expansion within various verticals.
• Risk of non-compliance with NASDAQ listing requirements.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), is the new name of SG Blocks, Inc. (NASDAQ:SGBX). The new name, logo and branding elements were introduced to better reflect Safe & Green Holdings position as a leading developer, designer, and fabricator of modular structures. The Company’s common stock will continue to trade on the Nasdaq Stock Market under its current ticker symbol “SGBX”.

“We are thrilled to continue the story of SG Blocks under a new banner that more accurately reflects the evolution of the company throughout the years. We are focused on providing long term sustainable shareholder value and have established, and are continuing to advance, various strategic initiatives to distinguish the various verticals we have built over the years under the Safe & Green Holdings umbrella,” said Chairman and Chief Executive Officer Paul Galvin.

Safe & Green Holdings Corp. was founded in 2007 on the principle that our advanced technology could take container construction to the next level. It has since grown and evolved into a modular solutions company that prioritizes sustainability and inventive, state-of-the-art building practices.

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 www.safeandgreenholdings.com.

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. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. 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 expand within various verticals as planned, the Company’s ability to position itself for future profitability, 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, 2021 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221222005105/en/

Investor Relations:

Equity Animal

Mark Moran

(646) 363-6567

mm@equityanimal.com

Source: Safe & Green Holdings Corp.

FAQ

What is the significance of the name change to Safe & Green Holdings Corp.?

The name change reflects the company's evolution and commitment to sustainable modular solutions.

How will the rebranding affect stock trading for SGBX?

The stock will continue trading under the ticker symbol SGBX on NASDAQ.

What are the company's strategic initiatives post-rebranding?

Safe & Green Holdings aims to enhance long-term shareholder value and expand within various industry verticals.

What are the potential risks for Safe & Green Holdings?

Key risks include the ability to comply with NASDAQ requirements and successfully expand operations.