Safe and Green Development Corporation, known as SGD, has successfully closed the second tranche of its private placement offering with Peak One Opportunity Fund, L.P. on May 24, 2024. The offering, initially agreed upon on April 29, 2024, and amended on May 22, 2024, involved the issuance of an 8% convertible debenture worth $350,000 and a warrant to purchase up to 262,500 shares of SGD's common stock. The debenture, sold at a 10% discount for $315,000, matures in twelve months and is convertible into common stock at a price of $0.60 per share, subject to adjustments. SGD also paid Peak One a non-accountable fee of $10,000 and issued 80,000 restricted common stock shares as commitment shares. Additionally, SGD has agreed to file a registration statement with the SEC by June 3, 2024, to...Show More

Safe and Green Development Corporation, known as SGD, has successfully closed the second tranche of its private placement offering with Peak One Opportunity Fund, L.P. on May 24, 2024. The offering, initially agreed upon on April 29, 2024, and amended on May 22, 2024, involved the issuance of an 8% convertible debenture worth $350,000 and a warrant to purchase up to 262,500 shares of SGD's common stock. The debenture, sold at a 10% discount for $315,000, matures in twelve months and is convertible into common stock at a price of $0.60 per share, subject to adjustments. SGD also paid Peak One a non-accountable fee of $10,000 and issued 80,000 restricted common stock shares as commitment shares. Additionally, SGD has agreed to file a registration statement with the SEC by June 3, 2024, to register the securities involved in the agreement. Maxim Group LLC served as the placement agent for the offering and received a fee of $18,900. The total number of shares SGD may issue is subject to a 19.99% exchange cap of the company's outstanding common stock as of April 29, 2024, unless shareholder approval is obtained to exceed this limit.