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SG Blocks Announces Oppenheimer & Co. to Supervise Share Buyback Program
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
buyback
Rhea-AI Summary
SG Blocks has selected Oppenheimer & Co. to manage its share buyback program, initially announced on July 15. The program aims to start three days post the filing of the Company's Q2 2022 10-Q. Paul Galvin, Chairman and CEO, stated that the buyback is intended to protect shareholder investments. This strategic move underscores the Company's commitment to enhancing shareholder value.
Positive
The share buyback program aims to protect shareholder investments.
Engagement of Oppenheimer & Co. signals confidence in the company's value.
Negative
None.
The leading investment bank and financial services firm will oversee the planned share buyback program, which was announced on July 15.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading developer, designer, and fabricator of modular structures, announced today that the Company has chosen Oppenheimer & CO., a leading global full-service brokerage and investment bank, to manage the share buyback program that was announced in July of 2022.
“We’re pleased to share that plans for our share buy-back program are well under way,” Paul Galvin, Chairman and CEO of SG Blocks said. “We appreciate our shareholders, and the share buyback program should help protect their investments in the Company.”
The buyback program is currently scheduled to commence three days following the filing of the Company’s Q2 2022 10-Q.
If anyone has any questions, they are invited to reach out to the Company’s investor relations firm, PCG Advisory, of whose contact information is noted below.
About SG Blocks, Inc.
SG Blocks, Inc. is a leading developer, designer, and fabricator of modular structures, meeting the growing demand for safe and green construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving faster execution, greener construction, and buildings of higher value. The Company creates purpose built, pre-fabricated modules from wood, steel, and shipping containers into supreme structures. For more information, visit www.sgblocks.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 and include statements regarding the Company’s share buyback program protecting shareholders’ investments in the Company and commencing the Company’s share buyback program three days following the filing of the Company’s Q2 2022 10-Q. While SG Blocks 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 implement the share buyback program, 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.
