Safe & Green Holdings Corp - SGBX STOCK NEWS

Safe & Green Holdings (NASDAQ: SGBX) has announced the pricing of a private placement offering expected to raise approximately $8.0 million in gross proceeds. The offering comprises 20,408,160 Common Units priced at $0.392 per unit (or $0.3919 for Pre-Funded Units).

Each unit consists of one share of Common Stock (or Pre-Funded Warrant), one Series A Warrant exercisable at $0.784 with a 60-month term, and one Series B Warrant exercisable at $0.98 with a 30-month term. Both warrant series will become exercisable following stockholder approval.

The company plans to use the net proceeds for working capital, general corporate purposes, and equipment for expansion. D. Boral Capital is serving as the Exclusive Placement Agent, with the transaction expected to close around April 14, 2025.

Safe & Green Holdings (NASDAQ: SGBX) has announced the acquisition of County Line Industrial, a Durant, Oklahoma-based welding services provider operating in Oklahoma and Texas. The strategic acquisition aims to enhance SGBX's presence in ready-mix cement and oil and gas sectors.

The integration of County Line's welding services is expected to generate additional revenue while improving profitability in SGBX's modular manufacturing business. The company anticipates enhanced efficiency and margins for its shipping container-based projects pipeline. County Line will continue expanding its operations in the Midland, Texas region, where it has experienced substantial growth.

This acquisition follows SGBX's recent Winchester Oil and Gas purchase, demonstrating the company's strategic focus on creating synergies within its oil and gas service business, Olenox, while strengthening its market position.

Safe & Green Holdings (NASDAQ: SGBX) announces that its subsidiary Olenox Corp. has acquired a 51% stake in Winchester Oil and Gas, which operates over 500 wells in Texas. Winchester currently produces approximately 50 barrels per day, with historical peak production of 200 barrels over the last four years.

The acquisition includes a $250,000 bond enabling unlimited well licenses in Texas. Olenox plans to reactivate 30-40% of the wells by Q2 2025, utilizing its patented down hole cleaning and stimulation technologies along with combo service rigs to reduce equipment and fuel costs. The company's Machfu technology implementation aims to decrease downtime and operational costs through integrated bidirectional well monitoring systems.

Safe & Green Holdings (NASDAQ: SGBX) reported its financial results for 2024, showing significant challenges with revenue declining to $4.9 million from $15.5 million in 2023. The company posted a net loss of $22.6 million ($10.53 per share) compared to $26.2 million loss in 2023.

Key developments include new leadership appointments with Michael McLaren as CEO and Jim Pendergrast as COO, a definitive merger agreement with Olenox and Machfu.com, and a legal victory securing $1.3 million in damages. The company's Adjusted EBITDA improved to -$9.4 million from -$20.8 million in 2023.

Financial position shows cash and equivalents of $375,873 as of December 31, 2024, with stockholders' equity at -$12.4 million.

Safe & Green Holdings (NASDAQ: SGBX) has scheduled its 2025 Annual Meeting of Stockholders for April 24, 2025, with March 9, 2025, set as the record date for voting eligibility. A important agenda item is the approval for New Asia Holdings Corp. shareholders to convert non-voting convertible preferred shares into common stock, marking the final phase of a merger involving Olenox Corp. and Machfu, Inc.

The merger aims to create a diversified enterprise combining Olenox's energy expertise in revitalizing oil and gas assets with Machfu's Industrial Internet of Things (IIoT) technology. Olenox focuses on distressed fields in Texas, Oklahoma, and Kansas, utilizing plasma pulse and ultrasonic cleaning technologies. Machfu contributes IIoT solutions for industrial infrastructure optimization and smart automation.

Safe & Green Holdings (NASDAQ: SGBX) has successfully regained compliance with Nasdaq's minimum equity standard listing requirements, as confirmed by the Nasdaq Hearings Panel. The company will maintain its listing on The Nasdaq Capital Market, though it remains under a grace period until June 10, 2025 to meet the minimum bid price requirement.

CEO Mike McLaren emphasized this achievement as a significant milestone demonstrating the company's business strategy and financial position strength. The company, which specializes in developing, designing, and fabricating modular structures, remains focused on delivering innovative solutions and expanding market presence while maintaining operational efficiency to create shareholder value.

Safe & Green Holdings (NASDAQ: SGBX) has entered into a non-binding Letter of Intent to acquire County Line Industrial, a modular manufacturing enterprise in Bokchito, Oklahoma. The acquisition aims to enhance SGBX's operational capabilities in custom-built modular components, precision welding, and on-site installation services.

The deal, expected to close in first half of 2025, will retain key personnel including General Manager Carter Fields. The strategic acquisition aligns with SGBX's growth plans, complementing their Olenox and Machfu.com platforms while focusing on streamlining supply chains, improving profitability, and accelerating time-to-market through operational synergies.

Safe & Green Holdings (NASDAQ: SGBX) has entered a definitive merger agreement with New Asia Holdings, acquiring Olenox Corp and Machfu.com through an all-stock transaction using non-voting convertible preferred shares.

Olenox operates three business units in Oil & Gas Production, Energy Services, and Energy Technologies, specializing in revitalizing underdeveloped energy assets in Texas, Oklahoma, and Kansas using proprietary plasma pulse and ultrasonic cleaning tools.

Machfu, with over 20,000 gateways deployed globally, provides industrial IoT solutions through its MachGateway® and Edge-to-Enterprise™ software, connecting legacy systems with modern digital infrastructure.

The merger aims to integrate Olenox's energy assets and Machfu's IoT capabilities with Safe & Green's modular fabrication expertise. The deal's completion requires approval from majority shareholders, Nasdaq, and regulatory authorities.

Safe & Green Holdings (NASDAQ: SGBX) announced that its SG Echo Waldron facility has received significant certification upgrades from the Texas Department of Licensing and Regulation (TDLR). The facility is now certified for:

• Industrialized housing construction
• Industrialized commercial buildings
• Commercial kitchen production
• Modified shipping container utilization as structural components

These certifications enhance the company's ability to deliver modular construction solutions across Texas while ensuring compliance with mandatory building codes and design standards. The company emphasizes that their modular home construction adheres to the same rigorous codes as site-built homes, with third-party inspection agency oversight to guarantee quality and safety standards.