On November 4, 2024, Safe and Green Development Corporation, a Delaware-based company listed on the Nasdaq Stock Market under the symbol SGD, filed a Form 8-K with the SEC to report an amendment to a previously established agreement. The amendment pertains to the Membership Interest Purchase Agreement dated February 7, 2024, involving the company, Majestic World Holdings LLC (MWH), and the members of MWH. The revised terms include an adjusted aggregate consideration for the purchase of MWH's membership interests, now comprising 500,000 shares of Safe and Green Development's restricted common stock and $154,675.00 in cash. The stock consideration was issued at the closing on February 7, 2024, while the cash consideration has a staggered payment schedule, with the final payment due by December 1, 2024. Additionally, 68.25% of...Show More

On November 4, 2024, Safe and Green Development Corporation, a Delaware-based company listed on the Nasdaq Stock Market under the symbol SGD, filed a Form 8-K with the SEC to report an amendment to a previously established agreement. The amendment pertains to the Membership Interest Purchase Agreement dated February 7, 2024, involving the company, Majestic World Holdings LLC (MWH), and the members of MWH. The revised terms include an adjusted aggregate consideration for the purchase of MWH's membership interests, now comprising 500,000 shares of Safe and Green Development's restricted common stock and $154,675.00 in cash. The stock consideration was issued at the closing on February 7, 2024, while the cash consideration has a staggered payment schedule, with the final payment due by December 1, 2024. Additionally, 68.25% of MWH's membership interests were transferred to Safe and Green Development on February 7, 2024, with the remaining 31.75% to be transferred by December 1, 2024. On the same date, outstanding promissory notes owed to certain MWH members will be cancelled and deemed satisfied. The full text of the amendment and related agreements are referenced in the report and available as exhibits attached to the Form 8-K filing.