On April 29, 2024, Safe and Green Development Corporation, a Delaware-based company, reported entering into a Securities Purchase Agreement with Peak One Opportunity Fund, L.P. The agreement outlines a private placement offering of three Debentures totaling $1,200,000. The first tranche closed on the same day, with the company issuing a $350,000 convertible debenture and a warrant for purchasing additional shares. The debenture was sold at a 10% discount, and the company also paid $10,000 to cover Peak One's transactional costs, issuing 80,000 restricted common stock shares. The debenture has a 12-month maturity with an 8% annual interest rate and is convertible into common stock at a set price, subject to adjustments. The agreement includes provisions for a second and third tranche, with similar terms, to...Show More

On April 29, 2024, Safe and Green Development Corporation, a Delaware-based company, reported entering into a Securities Purchase Agreement with Peak One Opportunity Fund, L.P. The agreement outlines a private placement offering of three Debentures totaling $1,200,000. The first tranche closed on the same day, with the company issuing a $350,000 convertible debenture and a warrant for purchasing additional shares. The debenture was sold at a 10% discount, and the company also paid $10,000 to cover Peak One's transactional costs, issuing 80,000 restricted common stock shares. The debenture has a 12-month maturity with an 8% annual interest rate and is convertible into common stock at a set price, subject to adjustments. The agreement includes provisions for a second and third tranche, with similar terms, to be potentially executed after June 28, 2024, and 60 days following the second tranche, respectively. Additionally, Safe and Green Development Corporation has committed to a Registration Rights Agreement to file with the SEC to register the securities for public trading. Maxim Group LLC served as the placement agent for the offering. The company's financial obligations under this agreement are detailed in the Form 8-K filed with the SEC.