Safe and Green Development Corporation (SGD) has released an update.
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Safe and Green Development Corporation has amended its securities purchase agreement with Peak One Opportunity Fund, L.P., initiating a private placement offering of two convertible debentures totaling $1,200,000. The first tranche closed with a $500,000 debenture, and the second, recently amended to divide into two equal parts of $250,000, closed with additional stock and warrant incentives. The debenture terms include an 8% annual interest rate, conversion rights into common stock, and repayment provisions that kick in if the company’s cash proceeds exceed a set threshold. The company also agreed to file with the SEC to register the securities issued under this agreement, adhering to an exchange cap unless shareholder approval allows an increase.
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