Safe and Green Development Corporation (SG DevCo) has announced a Special Meeting of Stockholders to be held on October 25, 2024, at the offices of Blank Rome LLP in New York. The meeting is called by the Board of Directors to seek approval on several key proposals. The first proposal is to amend the company's Amended and Restated Certificate of Incorporation to increase the authorized shares of common stock from 50,000,000 to 100,000,000. The second and third proposals involve the issuance of more than 20% of the company's issued and outstanding common stock as of August 12, 2024, to comply with Nasdaq listing rules. This includes shares pursuant to a securities purchase agreement with Arena Investors and a private equity line purchase agreement with Arena...Show More

Safe and Green Development Corporation (SG DevCo) has announced a Special Meeting of Stockholders to be held on October 25, 2024, at the offices of Blank Rome LLP in New York. The meeting is called by the Board of Directors to seek approval on several key proposals. The first proposal is to amend the company's Amended and Restated Certificate of Incorporation to increase the authorized shares of common stock from 50,000,000 to 100,000,000. The second and third proposals involve the issuance of more than 20% of the company's issued and outstanding common stock as of August 12, 2024, to comply with Nasdaq listing rules. This includes shares pursuant to a securities purchase agreement with Arena Investors and a private equity line purchase agreement with Arena Business Solutions Global SPC II, LTD (Arena Global). The fourth proposal is to adjourn the Special Meeting to a later date if necessary to permit further solicitation and vote of proxies if there are insufficient votes for the prior proposals. The Board recommends voting 'FOR' all proposals. The record date for determining stockholders entitled to notice of, and to vote at, the Special Meeting has been set as September 16, 2024.