Safe and Green Development Corporation (SGD), listed on the Nasdaq Capital Market under the symbol 'SGD', has filed a prospectus supplement with the SEC on March 11, 2024. This supplement updates and amends the original prospectus dated December 27, 2023, and includes information from the company's recent Form 8-K filed on March 11, 2024. The supplement details a new credit agreement with the Bryan Leighton Revocable Trust, providing SGD with a line of credit up to $250,000, with a maturity date of September 1, 2024. The company has the option to extend the maturity date by six months with mutual consent from the lender. The credit line bears a fixed annual interest rate of 12.0%, with interest payments due monthly. As part of the agreement, SGD issued 154,320 shares of...Show More

Safe and Green Development Corporation (SGD), listed on the Nasdaq Capital Market under the symbol 'SGD', has filed a prospectus supplement with the SEC on March 11, 2024. This supplement updates and amends the original prospectus dated December 27, 2023, and includes information from the company's recent Form 8-K filed on March 11, 2024. The supplement details a new credit agreement with the Bryan Leighton Revocable Trust, providing SGD with a line of credit up to $250,000, with a maturity date of September 1, 2024. The company has the option to extend the maturity date by six months with mutual consent from the lender. The credit line bears a fixed annual interest rate of 12.0%, with interest payments due monthly. As part of the agreement, SGD issued 154,320 shares of restricted common stock to the lender. On March 4, 2024, SGD drew down $60,000 from the line of credit. The closing price of SGD's common stock on March 8, 2024, was $1.24 per share. The company warns that investing in its securities involves a high degree of risk, as detailed under the 'Risk Factors' section of the prospectus.