“In 2023, Safe & Green Holdings experienced a robust increase in revenue from construction services, achieving a significant 30% increase compared to 2022,” commented Paul Galvin, Chairperson and Chief Executive Officer of Safe and Green Holdings. “It was also an exciting year, and a year of celebration for the Company, as we achieved a milestone event with the successful spin-off of SG Development Corp. into a separate entity that now trades independently on the Nasdaq market. This strategic move came to fruition after more than a year of relentless dedication and work by our team. At the time of the spin-out, SG DevCo had a third-party fairness opinion that valued SG DevCo’s fair market value at $74 million.”
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