Safe & Green Holdings Corp. Announces Settlement in Legal Action Taken Against Select Stockholders
27 Setembro 2023 - 9:30AM
Business Wire
Safe & Green Holdings Corp. (NASDAQ: SGBX) (“SG Holdings” or
the “Company”), a leading developer, designer, and fabricator of
modular structures for residential, commercial, and point-of-care
medicine, today announced that a settlement agreement has been
reached with two of its stockholders, resolving a previously
announced, Company initiated litigation.
Paul Galvin, Chairman and CEO, commented, "We are pleased to
have resolved this legal issue taken against two stockholders of
the Company earlier this year. We remain steadfast in our efforts
to encourage stockholder compliance with all securities laws. We
will always fight for our stockholders."
In connection with the settlement agreement, the Company
received a three-month irrevocable proxy, subject to extension,
from the stockholders giving the Company the right to vote the
shares of common stock held by them. As of September 26, 2023, the
stockholders beneficially owned 3,970,100 shares which represents
approximately 23.85% of the Company’s issued and outstanding common
stock.
About Safe & Green Holdings
Corp.
Safe & Green Holdings Corp., a leading modular solutions
company, operates under core capabilities which include the
development, design, and fabrication of modular structures, meeting
the demand for safe and green solutions across various industries.
The firm supports third-party and in-house developers, architects,
builders, and owners in achieving faster execution, greener
construction, and buildings of higher value. The Company’s
subsidiary, Safe and Green Development Corporation, is a leading
real estate development company. Formed in 2021, it focuses on the
development of sites using purpose-built, prefabricated modules
built from both wood and steel, sourced from one of SG Holdings’
factories and operated by the SG Echo subsidiary. For more
information, visit https://www.safeandgreenholdings.com/ and follow
us at @SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. These forward-looking
statements are based upon current estimates and assumptions and
include statements regarding remaining steadfast in the Company’s
efforts to encourage stockholder compliance with all securities law
and always fighting for the Company’s stockholders. While the
Company believes these forward-looking statements are reasonable,
undue reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward-looking statements are subject
to various risks and uncertainties, many of which are difficult to
predict that could cause actual results to differ materially from
current expectations and assumptions from those set forth or
implied by any forward-looking statements. Important factors that
could cause actual results to differ materially from current
expectations include but are not limited to those factors discussed
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022 and its subsequent filings with the SEC,
including subsequent periodic reports on Forms 10-Q and 8-K . The
information in this release is provided only as of the date of this
release, and we undertake no obligation to update any
forward-looking statements contained in this release on account of
new information, future events, or otherwise, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230927493577/en/
Investor Relations: Crescendo Communications, LLC
212-671-1020 SGBX@crescendo-ir.com
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