Form 8-K - Current report
September 12 2023 - 7:00AM
Edgar (US Regulatory)
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0001023994
2023-09-11
2023-09-11
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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO
SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date
of earliest event reported): September 11, 2023
SAFE & GREEN
HOLDINGS CORP.
(Exact Name of Registrant
as Specified in its Charter)
Delaware |
|
001-38037 |
|
95-4463937 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
990 Biscayne
Blvd
#501, Office
12
Miami, FL 33132
(Address of Principal
Executive Offices, Zip Code)
Registrant’s
telephone number, including area code: 646-240-4235
(Former name or
former address, if changed since last report.)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
☐ | Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant
to Section 12(b) of the Act:
Title of Each Class |
|
Trading Symbol(s) |
|
Name of Each Exchange on Which Registered |
Common Stock, par value $0.01 |
|
SGBX |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company,
indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On September 11, 2023,
Safe & Green Holdings Corp.’s (the “Company”) subsidiary, Safe and Green Development Corporation (“SG DevCo”),
entered into Amendment No. 2 to the Loan Agreement between SG DevCo and BCV S&G DevCorp. (“Amendment No. 2”) to change
the date upon which SG DevCo’s shares must be listed on The Nasdaq Stock Market from September 15, 2023 to September 30, 2023. As
previously disclosed, the loan is secured by 19.99% of the shares of SG DevCo’s common stock (the “Pledged Shares”).
According to Amendment No. 2, if SG DevCo’s shares of common stock are not listed on The Nasdaq Stock Market before September 30,
2023 or if following such listing the total market value of the Pledged Shares falls below twice the face value of the loan, the loan
will be further secured by a security interest in SG DevCo’s St. Mary’s industrial site, consisting of 29.66 acres and a proposed
manufacturing facility in St. Mary’s, Georgia.
The
foregoing description of Amendment No. 2 is qualified in its entirety by reference to the full text of Amendment No. 2, a copy of which
is attached hereto as Exhibit 10.1 and incorporated herein in its entirety by reference.
Item 9.01 Financial Statements
and Exhibits.
(d) Exhibits
The following exhibits are
filed with this Current Report on Form 8-K:
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
SAFE & GREEN HOLDINGS CORP. |
|
Dated: September 12, 2023 |
By: |
/s/ Patricia Kaelin |
|
Name: |
Patricia Kaelin |
|
Title: |
Chief Financial Officer |
2
Exhibit 10.1
AMENDMENT
NO. 2 TO LOAN AGREEMENT
This Amendment No.
2 (this “Amendment No. 2”) to Loan Agreement is made and entered into effective as of September 11, 2023, by and
between Safe and Green Development Corporation (the “Company”) and BCV S&G
DevCorp (“BCV S&G”). Capitalized terms used but not defined herein shall have the respective meanings assigned
to such terms in the BCV Loan Agreement (as defined below).
WHEREAS,
the Company and BCV S&G are parties to that certain Loan
Agreement, dated as of June 16, 2023, as amended on August 25, 2023 (the “BCV Loan Agreement”).
WHEREAS,
the parties desire to amend the BCV Loan Agreement on the terms and conditions set forth herein.
NOW, THEREFORE,
in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, and in accordance with the terms of the BCV Loan Agreement, the parties hereto, intending
to be legally bound, do hereby agree as follows:
| 1. | The second paragraph of Section 3 of the of the BCV Loan Agreement is hereby amended and restated to read
as follows: |
“The Borrower intends to list
on the Nasdaq stock exchange before the 30th of September 2023 under the ticker SGD.”
| 2. | The first paragraph of Section 11 of the BCV Loan Agreement is hereby amended and restated to read as
follows: |
“The Parties
agree that if the Borrower is not able to be listed on the Nasdaq stock exchange before the 30th of September 2023 under the
ticker SGD, the Loan will be secured by a security interest in the 29.66 acres of underlying land and entitlements of a proposed manufacturing
facility, located along Douglas Drive, in Saint Marys, GA 31558 ( United States of America), whose the features are described in annex
2 of the Agreement, (“Saint Marys Property”), ( the “Alternative Collateral”).”
| 3. | Except as otherwise expressly provided herein, all of the other
terms and conditions of the BCV Loan Agreement remain unchanged and continue in full force and effect. |
[Signature Pages
Follow]
Executed as of
the date written on the cover page to this Amendment No. 2.
Bridgeline Capital
Ventures on behalf of its Compartment BCV S&G DevCorp
Represented by
Bridgeline Capital Partners in its capacity of Management Company
/s/ George Pal |
|
/s/ Hervé Croset |
Name: George Pal |
|
Name: Hervé Croset |
Function: Director |
|
Function: Director |
|
|
|
Safe and Green Development Corporation |
|
|
|
|
|
/s/ Nicolai Brune |
|
/s/ David Villareal |
Name: Nicolai Brune |
|
Name: David Villarreal |
Function: Chief Financial Officer |
|
Function: Chief Executive Officer |
[Signature Page
to Amendment No. 2 to Loan Agreement]
v3.23.2
Cover
|
Sep. 11, 2023 |
Cover [Abstract] |
|
Document Type |
8-K
|
Amendment Flag |
false
|
Document Period End Date |
Sep. 11, 2023
|
Entity File Number |
001-38037
|
Entity Registrant Name |
SAFE & GREEN
HOLDINGS CORP.
|
Entity Central Index Key |
0001023994
|
Entity Tax Identification Number |
95-4463937
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
990 Biscayne
Blvd
|
Entity Address, Address Line Two |
#501
|
Entity Address, Address Line Three |
Office
12
|
Entity Address, City or Town |
Miami
|
Entity Address, State or Province |
FL
|
Entity Address, Postal Zip Code |
33132
|
City Area Code |
646
|
Local Phone Number |
240-4235
|
Written Communications |
false
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Soliciting Material |
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Pre-commencement Tender Offer |
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Pre-commencement Issuer Tender Offer |
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|
Title of 12(b) Security |
Common Stock, par value $0.01
|
Trading Symbol |
SGBX
|
Security Exchange Name |
NASDAQ
|
Entity Emerging Growth Company |
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