Safe and Green Development Corporation Regains Compliance with Nasdaq Listing Standards
Safe and Green Development (Nasdaq: SGD) has received formal notice from Nasdaq confirming its regained compliance with the minimum bid price requirement under Listing Rule 5550(a)(2). The company's CEO, David Villarreal, expressed satisfaction with regaining compliance, emphasizing their commitment to enhancing shareholder value and ensuring long-term growth through the execution of strategic initiatives.
Safe and Green Development (Nasdaq: SGD) ha ricevuto una comunicazione formale da Nasdaq che conferma il ripristino della sua conformità con il requisito del prezzo minimo di offerta ai sensi della Regola di Quotazione 5550(a)(2). Il CEO dell'azienda, David Villarreal, ha espresso soddisfazione per il ripristino della conformità, sottolineando il loro impegno a migliorare il valore per gli azionisti e a garantire una crescita sostenibile a lungo termine attraverso l'attuazione di iniziative strategiche.
Safe and Green Development (Nasdaq: SGD) ha recibido una notificación formal de Nasdaq confirmando su cumplimiento recuperado con el requisito de precio mínimo de oferta bajo la Regla de Cotización 5550(a)(2). El CEO de la compañía, David Villarreal, expresó su satisfacción por recuperar el cumplimiento, enfatizando su compromiso de aumentar el valor para los accionistas y asegurar un crecimiento a largo plazo a través de la ejecución de iniciativas estratégicas.
Safe and Green Development (Nasdaq: SGD)는 Nasdaq으로부터 5550(a)(2) 상장 규정에 따른 최소 입찰 가격 요구 사항을 다시 준수하게 되었음을 알리는 공식 통지를 받았습니다. 회사의 CEO인 David Villarreal는 준수를 회복한 것에 대한 만족감을 표명하며, 주주 가치를 증대하고 전략적 이니셔티브 실행을 통해 장기적인 성장을 보장하겠다는 의지를 강조했습니다.
Safe and Green Development (Nasdaq: SGD) a reçu un avis formel de Nasdaq confirmant sa conformité retrouvée avec l'exigence du prix minimal d'offre selon la règle de cotation 5550(a)(2). Le PDG de l'entreprise, David Villarreal, a exprimé sa satisfaction quant au retour à la conformité, en soulignant son engagement à améliorer la valeur des actionnaires et à garantir une croissance à long terme grâce à l'exécution d'initiatives stratégiques.
Safe and Green Development (Nasdaq: SGD) hat eine offizielle Mitteilung von Nasdaq erhalten, die die Wiederherstellung der Einhaltung der Mindestgebotsanforderung gemäß der Listing-Regel 5550(a)(2) bestätigt. Der CEO des Unternehmens, David Villarreal, äußerte seine Zufriedenheit über die Wiederherstellung der Einhaltung und betonte das Engagement, den Aktionärswert zu steigern und langfristiges Wachstum durch die Umsetzung strategischer Initiativen zu gewährleisten.
- Regained compliance with Nasdaq listing requirements, avoiding potential delisting risk
- None.
Insights
Regaining Nasdaq compliance removes an immediate threat of delisting but doesn't fundamentally change the company's business outlook. While this development maintains SGD's access to capital markets and trading visibility, investors should note that meeting the minimum bid requirement was likely achieved through the recent 1-for-20 reverse stock split rather than organic share price appreciation.
With a relatively small market cap of
"We are pleased to have regained compliance with Nasdaq's listing standards, which reflects our commitment to enhancing shareholder value and ensuring the long-term growth of the Company," said David Villarreal, Chief Executive Officer of Safe and Green Development Corporation. "We will continue to focus on executing our strategic initiatives and delivering sustainable results for our investors."
About Safe and Green Development Corporation (SG Devco)
Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses on the development of sites using purpose-built, prefabricated modules built from both wood and steel. The thesis of development is to build strong, innovative and green, single or multifamily projects across all income and asset classes. Additionally, a majority owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform. The Platform aims to decentralize the real estate marketplace, creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment. MyVONIA Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA which is an AI-powered personal assistant designed to help simplify daily tasks and improve productivity for individuals and businesses. MyVONIA aims to assist with managing both personal and professional tasks.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. All statements other than statements of historical fact are or may be deemed to be forward-looking statements. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates" and similar expressions and include statements regarding enhancing shareholder value and ensuring the long-term growth of the Company, executing our strategic initiatives and delivering sustainable results for our investors and creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment.
These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to deliver and sell its homes in
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SOURCE Safe and Green Development Corporation
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