Safe and Green Development Corporation (SGD) has released an update.
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.
For further insights into SGD stock, check out TipRanks’ Stock Analysis page.
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