Safe & Green Falls Despite Change
Safe & Green Holdings Corp. (NASDAQ: SGBX) shares surrendered some ground Wednesday. The Miami-based company, a leading developer, designer, and fabricator of modular structures, today provided an update on its recent transformation, marking a new era of financial strength, operational momentum, and strategic expansion.
Backed by $108 million in committed funding, and generating strong market engagement, the Company provides a review of key achievements while embarking on an aggressive buy-and-build strategy aimed at positioning itself for success in both domestic and international markets.
CEO Michael McLaren commented, "In January 2025, we took on the challenge to rebuild Safe and Green into a world-class, professional, and dynamic enterprise. Today, we believe that vision to be reality. With $108 million in funding and aggressive growth plans, the exciting part of rebuilding this Company starts now.
“We are generating revenue, expanding fast and leading from the front in both US energy and sustainable building products and technologies. Our focus remains on creating shareholder value and we look forward to providing continued updates on our progress."
Key Achievements include a $100-Million ELOC Securities Purchase Agreement– Fully accessible upon shareholder approval and S-1 effectiveness, supporting acquisitions and technology scale-up.
Also, the company points to an $80-Million Private Placement with D. Boral Capital acting as sole placement agent.
The company hails its merger with New Asia Holdings, Inc. including its subsidiaries Olenox and Machfu via a sign and close transaction, accelerating growth into new business channels.
SGBX shares dipped four cents, or 7.2%, to 53 cents.
