Safe and Green Development Corporation (SG DevCo) has filed a registration statement with the Securities and Exchange Commission (SEC) on August 30, 2024, for the resale of up to 29,621,009 shares of common stock. The shares are being offered by certain selling stockholders, including Arena Special Opportunities Fund, LP, and Arena Business Solutions Global SPC II, Ltd (Arena Global), among others. The shares may be sold on the Nasdaq Capital Market or other venues, with the method of sale at the discretion of the selling stockholders. SG DevCo will not receive any proceeds from the sale of shares by the selling stockholders. However, the company may receive proceeds from the cash exercise of warrants associated with the shares. The registration statement includes provisions...Show More

Safe and Green Development Corporation (SG DevCo) has filed a registration statement with the Securities and Exchange Commission (SEC) on August 30, 2024, for the resale of up to 29,621,009 shares of common stock. The shares are being offered by certain selling stockholders, including Arena Special Opportunities Fund, LP, and Arena Business Solutions Global SPC II, Ltd (Arena Global), among others. The shares may be sold on the Nasdaq Capital Market or other venues, with the method of sale at the discretion of the selling stockholders. SG DevCo will not receive any proceeds from the sale of shares by the selling stockholders. However, the company may receive proceeds from the cash exercise of warrants associated with the shares. The registration statement includes provisions for indemnification of directors and officers, and the company has entered into indemnification agreements with its directors and executive officers. SG DevCo's common stock is listed on the Nasdaq Capital Market under the symbol 'SGD.' The last reported sale price of SG DevCo's common stock on August 28, 2024, was $0.282 per share. The company has also detailed its capital structure, including the authorization of 50,000,000 shares of common stock and 5,000,000 shares of preferred stock, and has outlined certain anti-takeover provisions in its amended and restated certificate of incorporation and bylaws.