Safe & Green Holdings Corp Stock Price, News & Analysis

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.

Safe & Green Holdings (NASDAQ: SGBX) has entered into a Securities Purchase Agreement with Alumni Capital LP to establish an equity line of credit (ELOC). The agreement provides flexible funding to support strategic growth initiatives while minimizing shareholder dilution. The Company maintains full control over the timing and amount of equity sales.

The ELOC will be used to advance growth initiatives, including market expansion, project development, and operational efficiency improvements. CEO Michael McLaren emphasized that the agreement represents a key milestone in their growth strategy, while CFO Tricia Kaelin confirmed plans to leverage proceeds for the company's growth agenda.

Alumni Capital's Portfolio Manager Ashkan Mapar expressed confidence in Safe & Green Holdings' vision and management team. Further details about the transaction are available in the Company's Form 8-K filed with the SEC.

Safe & Green Holdings Corp. (NASDAQ: SGBX) has appointed Jim Pendergast as its new Chief Operating Officer, effective January 16, 2025. Pendergast brings over 25 years of leadership experience in corporate operations, having held roles such as CEO, CFO, and COO in various sectors including energy, construction, manufacturing, and agriculture.

He has extensive expertise in mergers and acquisitions, corporate restructuring, and equity and debt financing. His previous roles include COO at MGO Systems , where he oversaw more than 50 construction projects, and CEO/CFO at Paramount Structures Inc., leading its acquisition and financial restructuring. As CEO of FP Genetics Inc., he refocused the company on profitable growth.

Michael McLaren, Chairman and CEO of Safe & Green, expressed confidence in Pendergast's ability to drive sustained growth and navigate complex challenges. This appointment comes as Safe & Green integrates Olenox and Machfu into its ecosystem, aiming for substantial growth in the energy and technology sectors.

Safe & Green Holdings (NASDAQ: SGBX) has announced a binding Letter of Intent to acquire 100% of New Asia Holdings (OTCQB: NAHD), including its subsidiaries Olenox Corp. and Machfu.com. Olenox operates in oil & gas production, energy services, and energy technologies, having increased production from 113 to a projected 700 BOE/day. Machfu.com specializes in Industrial IoT solutions with over 20,000 gateways deployed globally.

The combined entity will maintain SGBX's current modular operations while leveraging facilities like the Waldron facility in Durant, Oklahoma, to support oil and gas operations. Michael McLaren, recently appointed CEO of Safe & Green and founder/CEO of Olenox, will become Chairman, succeeding Paul Galvin who remains on the board.

The acquisition aims to create operational efficiencies, expand addressable markets, and strengthen SGBX's Nasdaq listing position through improved financial performance.