Olenox Announces Results of Annual Stockholder Meeting

Rhea-AI Summary

Olenox (NASDAQ:OLOX) reported results of its 2025 Annual Meeting held March 31, 2026. Stockholders elected seven directors, ratified RBSM LLP as auditor, approved executive compensation (advisory), multiple large equity issuances exceeding 20% of outstanding stock, and authorized major charter and incentive-plan changes.

Shareholders approved increasing authorized common shares from 75,000,000 to 3,000,000,000, adding 1,500,000 shares to the stock incentive plan plus annual 4.5% increases, and a potential 1-for-10 to 1-for-20 reverse stock split. A proposed merger and conversion of Series A preferred stock were not approved.

Positive

• Board elected: seven directors re/appointed at Annual Meeting
• Auditor ratified: RBSM LLP approved for 2025 audit
• Authorized shares increased: common stock cap raised to 3,000,000,000
• Stock incentive boost: 1,500,000 shares added plus 4.5% annual increases

Negative

• Large dilutive issuances: approvals for issuances >=20% to Generating Alpha and JAK
• Reverse split authority: 1-for-10 to 1-for-20 reverse split approved, may reduce share count
• Potential shareholder dilution: authorized shares jump from 75M to 3B could enable significant dilution

News Market Reaction – OLOX

-22.18%

28 alerts

-22.18% Session close to close

-27.8% Trough in 11 hr 1 min

$5.72M Market Cap

0.5x Rel. Volume

In the Apr 2 session, OLOX declined 22.18%, reflecting a significant negative market reaction. Argus tracked a trough of -27.8% from its starting point during tracking. Our momentum scanner triggered 28 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock dropped -22.2% in the session following this news. The decline reflects shareholder concer...

Analysis

The stock dropped -22.2% in the session following this news. The decline reflects shareholder concern over extensive dilution-enabling actions, including raising authorized common shares to 3,000,000,000, sizable issuances of ≥20% to investors, and approval of a 1-for-10–1-for-20 reverse split range. This fits a pattern where prior ostensibly positive news often preceded drops, such as -4.49% and -2.50% moves, underscoring sensitivity to capital-structure changes and governance decisions.

Key Figures

Authorized common increase: from 75,000,000 to 3,000,000,000 shares Plan share increase: 1,500,000 shares Annual plan auto-increase: 4.5% of shares outstanding +5 more

8 metrics

Authorized common increase from 75,000,000 to 3,000,000,000 shares Amendment to articles of incorporation approved at 2025 Annual Meeting

Plan share increase 1,500,000 shares Added to SG Blocks, Inc. Stock Incentive Plan

Annual plan auto-increase 4.5% of shares outstanding Automatic yearly increase for ten years starting Jan 1, 2026

Reverse split range 1-for-10 to 1-for-20 Approved reverse stock split ratio range for common shares

Generating Alpha issuance ≥20% of common stock Issuances under 2025 securities purchase agreements

JAK Ventures issuance ≥20% of common stock Issuance under Nov 25, 2025 Securities Purchase Agreement

Series A conversion ratio 15 common per preferred share Conversion terms for Series A Convertible Preferred Stock

10-K expected filing date April 15, 2026 Stated in NT 10-K for year ended Dec 31, 2025

Historical Context

5 past events · Latest: Mar 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 04	Production update	Positive	-4.5%	Field revitalization nearing 70 barrels-per-day target with more wells planned.
Mar 03	Drilling program	Positive	-1.8%	Launch of 2026 drilling program and pipeline work targeting 1,000 BOE/day.
Feb 26	Contract win	Positive	-2.5%	Subsidiary retained for infrastructure work on New Jersey greenway project.
Feb 24	EV client contract	Positive	+9.3%	Giant Containers to deliver modular structures for a leading EV company.
Feb 20	Board appointment	Neutral	-14.5%	Appointment of Ambassador Paula J. Dobriansky to the Board of Directors.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent ostensibly positive operational updates have often been followed by negative price reactions, suggesting a pattern of shareholder skepticism toward announcements.

Recent Company History

Over the past few months, Olenox issued several operational and contract updates, including drilling plans, production stabilization targets, and new modular-building engagements, plus a board appointment on Feb. 16, 2026. Despite mainly constructive narratives, four of the last five news days saw negative 24-hour moves, with only the EV modular-structures contract producing a +9.27% reaction. This meeting outcome, with extensive share-authorizing actions, follows that backdrop of cautious trading.

Key Terms

securities purchase agreements, stock incentive plan, articles of incorporation, certificate of incorporation, +4 more

8 terms

securities purchase agreements financial

"the approval of the issuances of shares of the Company's common stock, pursuant to those certain securities purchase agreements, dated"

A securities purchase agreement is a legal contract that spells out the terms when a company sells stocks, bonds, or other investment instruments to buyers. It lays out price, how many securities change hands, any promises or protections for each side, and when the sale is completed—like a detailed sales contract for investments. Investors care because it determines ownership stakes, potential dilution, rights attached to the securities, and conditions that affect the company’s future value.

stock incentive plan financial

"increase in the maximum number of authorized shares subject to the SG Blocks, Inc. Stock Incentive Plan, as amended from time to time"

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

articles of incorporation regulatory

"the approval to amend the Company's articles of incorporation to increase the authorized shares"

A formal legal document filed with a government authority that creates a corporation and sets its basic rules — for example the company name, business purpose, how many ownership shares can exist, and who can receive legal notices. It matters to investors because it defines ownership structure, voting rights, and limits on liability, shaping who controls the company and how future shares or dividends can affect an investor’s stake; think of it as the company’s birth certificate and rulebook.

certificate of incorporation regulatory

"the approval to an amendment to the Company's Certificate of Incorporation to effect a reverse stock split"

A certificate of incorporation is an official government document that creates a corporation and records key facts such as its legal name, basic governance structure, and stock authorization—think of it as a company's birth certificate plus its basic rulebook. Investors care because it establishes the company’s legal existence, limits owners’ personal liability, and sets the framework for issuing shares and enforcing shareholder rights, which affects ownership, control and the company’s ability to raise capital.

reverse stock split financial

"to effect a reverse stock split with respect to the Company's issued and outstanding common stock"

A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.

independent registered public accounting firm regulatory

"the ratification of the appointment of RBSM LLP, as the Company's independent registered public accounting firm"

An independent registered public accounting firm is an outside accounting company officially registered with the government regulator to examine and report on a public company's financial records and controls. Investors treat its reports like an impartial inspector’s certificate — they add credibility to financial statements, help spot errors or misleading claims, and reduce the risk that shareholders are relying on unchecked or biased numbers.

series a convertible preferred stock financial

"conversion of the Company's Series A Convertible Preferred Stock, par value $1.00 per share, into shares"

Series A convertible preferred stock is a class of shares sold in an early funding round that gives investors a mix of protection and upside: it pays a priority claim over common shares if the company is sold or closes, but can be converted into ordinary shares to share in future growth. Think of it like a hybrid between a safer stake and a ticket to ownership; it matters to investors because it affects who controls the company, how future gains are split, and how much their investment is protected from downside.

agreement and plan of merger financial

"the approval of the Agreement and Plan of Merger, dated February 2, 2025, by and between the Company and New Asia Holdings, Inc."

An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CONROE, TX / ACCESS Newswire / April 2, 2026 / Olenox Industries, Inc. (NASDAQ:OLOX) ("Olenox" or the "Company") is pleased to announce the results of its 2025 Annual Meeting of Stockholders, held March 31, 2026, at 1:00 P.M. Central Time (the "Annual Meeting").

At the Annual Meeting, the stockholders approved the following corporate actions:

• the election of Michael McLaren, Adam Falkoff, Jill Anderson, Thomas Meharey, Paula J. Dobriansky, Erik Blum and Samarth Verma to serve as the Company's Board of Directors;

• the ratification of the appointment of RBSM LLP, as the Company's independent registered public accounting firm for the year ended December 31, 2025;

• the approval, on an advisory and non-binding basis, the compensation of the Company's named executive officers;

• the approval of the issuances of shares of the Company's common stock, pursuant to those certain securities purchase agreements, dated as of March 27, 2025, April 11, 2025, and May 29, 2025, respectively, in each case by and between the Company and Generating Alpha Ltd., in an amount equal to or in excess of 20% of the Company's common stock outstanding immediately prior to the issuance of such shares;

• the approval to increase in the maximum number of authorized shares subject to the SG Blocks, Inc. Stock Incentive Plan, as amended from time to time, by 1,500,000 shares and to automatically increase the maximum number of authorized shares subject to the Stock Incentive Plan on January 1 of each calendar year for a period of ten years commencing on January 1, 2026, in an amount equal to 4.5% of the number of shares of Company common stock outstanding on December 31 of the preceding calendar year;

• the approval to amend the Company's articles of incorporation to increase the authorized shares of the Company's common stock from 75,000,000 shares to 3,000,000,000 shares;

• the approval of the issuance of shares of the Company's common stock, pursuant to that certain Securities Purchase Agreement, dated as of November 25, 2025, by and between the Company and JAK Industrial Ventures I LLC, in an amount equal to or in excess of 20% of the Company's common stock outstanding immediately prior to the issuance of such shares;

• the approval to an amendment to the Company's Certificate of Incorporation to effect a reverse stock split with respect to the Company's issued and outstanding common stock, par value $0.01 per share,
  including stock held by the Company as treasury shares, at a ratio of 1-for-10 to 1-for-20, with the ratio within such range to be determined at the discretion of the Company's Board of Directors and included in a public announcement, subject to the authority of the Board of Directors to abandon such amendment; and

• the approval of one or more adjournments of the 2025 Annual Meeting, if necessary or appropriate, to solicit additional proxies in favor of the proposals for the 2025 Annual Meeting.

The following corporate action was not approved by the Stockholders:

• the approval of the Agreement and Plan of Merger, dated February 2, 2025, by and between the Company and New Asia Holdings, Inc., and subsequently, the conversion of the Company's Series A Convertible Preferred Stock, par value $1.00 per share, into shares of the Company's common stock, whereby each share of Series A Convertible Preferred Stock converts into fifteen (15) shares of Company common stock.

About Olenox Industries, Inc.
Olenox Industries Inc. (Nasdaq:OLOX), formerly known as Safe & Green Holdings Corp. (SGBX), is an industrial holding company focused on acquiring, operating, and scaling businesses that provide engineered solutions across industrial, energy, and infrastructure markets. Through its subsidiaries, including Giant Containers, the Company delivers high-quality modular and containerized systems designed for rapid deployment and long-term performance.

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 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, 2024, 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.

Investors:
investors@olenox.com

SOURCE: Olenox Industries, Inc.

View the original press release on ACCESS Newswire

FAQ

What did Olenox (OLOX) stockholders approve at the March 31, 2026 annual meeting?

Stockholders approved director elections, ratified RBSM LLP as auditor, and approved executive compensation (advisory). According to the company, they also approved large equity issuances, amendments to authorized shares, incentive-plan increases, and reverse split authority.

What is the authorized share increase Olenox (OLOX) approved on March 31, 2026?

Olenox approved increasing authorized common shares from 75,000,000 to 3,000,000,000. According to the company, this amendment expands the share cap and could enable future issuances or financings.

What reverse stock split did Olenox (OLOX) approve and what flexibility does it give the board?

Shareholders approved a reverse split in the range of 1-for-10 to 1-for-20, with the final ratio set by the board. According to the company, the board may also abandon the amendment before implementation.

How will the approved changes to the stock incentive plan affect Olenox (OLOX) equity awards?

The plan was increased by 1,500,000 shares and will auto-increase 4.5% annually for ten years starting January 1, 2026. According to the company, this authorizes more shares for future equity grant awards.

Did Olenox (OLOX) approve any large equity issuances at the meeting on March 31, 2026?

Yes, stockholders approved issuances of common stock to Generating Alpha and JAK equal to or exceeding 20% of outstanding shares prior to issuance. According to the company, those agreements date from March–November 2025.

Which proposal was rejected by Olenox (OLOX) stockholders at the March 31, 2026 meeting?

Stockholders did not approve the merger agreement with New Asia Holdings or the conversion of Series A preferred into common at a 1:15 ratio. According to the company, that merger and conversion proposal failed to pass.