On August 12, 2024, Safe and Green Development Corporation entered into a Securities Purchase Agreement with Arena Investors, initiating a series of private placement offerings. The agreement includes the issuance of up to five secured convertible debentures totaling $10,277,777, along with warrants to purchase additional shares of the company's common stock. The first tranche closed on the same day, with the company issuing debentures worth $1,388,888.75 at a 10% discount and warrants for up to 277,777 shares. The debentures carry a 0% interest rate, mature in 18 months, and are convertible into common stock at a specified conversion price, subject to certain conditions. The company also entered into a Registration Rights Agreement to register the securities for resale, and a Security Agreement granting Arena Investors a security...Show More

On August 12, 2024, Safe and Green Development Corporation entered into a Securities Purchase Agreement with Arena Investors, initiating a series of private placement offerings. The agreement includes the issuance of up to five secured convertible debentures totaling $10,277,777, along with warrants to purchase additional shares of the company's common stock. The first tranche closed on the same day, with the company issuing debentures worth $1,388,888.75 at a 10% discount and warrants for up to 277,777 shares. The debentures carry a 0% interest rate, mature in 18 months, and are convertible into common stock at a specified conversion price, subject to certain conditions. The company also entered into a Registration Rights Agreement to register the securities for resale, and a Security Agreement granting Arena Investors a security interest in all of the company's assets. Additionally, Safe and Green Development Corporation entered into an Equity Line of Credit Agreement with Arena Business Solutions Global SPC II, LTD, allowing the company to direct Arena Global to purchase up to $50 million in shares of its common stock under certain conditions. The company has committed to registering these shares for resale and has agreed to issue shares to Arena Global as a commitment fee. The transactions are part of a strategic financing plan to raise capital, with further tranches contingent on various conditions including trading volume thresholds and registration statement effectiveness.