Safe & Green With Q3 Update

11/27/2024 3:12:46 PM

(MENAFN- Baystreet) Safe & Green Holdings Corp. (NASDAQ: SGBX) shares gained ground , as the company, a leading developer, designer, and fabricator of modular structures, today provided a third quarter business update, highlighting recent operational achievements and strengthened financial positioning.

Recent Highlights:

Strengthened Financial Position Through Warrant Inducement Transaction: Safe & Green recently completed a warrant inducement transaction, generating $2.4 million in gross proceeds. This influx of capital strengthens the Company's balance sheet and provides the working capital necessary to fuel ongoing and upcoming growth initiatives.

Completion of Major Government Projects: Safe & Green successfully completed two significant projects for a U.S. government contractor, underscoring the Company's capability to deliver high-quality modular solutions on a large scale. These projects highlight Safe & Green's expertise in modular construction and its commitment to serving critical sectors. The successful completion of these projects enhances the Company's reputation and positions it favorably for future federal and state-level contracts, building on its proven performance in delivering complex, sustainable infrastructure.

Refinancing of the Waldron Facility in Durant, Oklahoma: Safe & Green has successfully closed the refinancing of its Waldron Facility in Durant, OK, providing enhanced financial flexibility to support the expansion of its production capabilities. The refinancing demonstrates the Company's strategic approach to managing its assets and optimizing its financial structure, enabling it to increase output to meet rising demand in modular construction.

SGBX shares captured 2.7 cents, or 6.5%, to 44 cents.

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