Safe & Green Holdings Engages Firm for Sales-Leaseback on Waldron Facility in Durant, OK
July 24 2024 - 8:30AM
Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe &
Green Holdings” or the “Company”), a leading
developer, designer, and fabricator of modular structures, is
pleased to announce it has engaged Northmarq Capital to secure a
suitable deal and partner for a sale-leaseback involving its
Waldron facility located in Durant, Oklahoma. This strategic move
for the property appraised at $4.7 million is intended to free up
working capital, thereby supporting Safe & Green Holdings'
growing customer demand and facilitating its aggressive expansion
strategies.
The sale-leaseback highlights the Company's
innovative approach to leveraging its strong asset base to secure
non-dilutive capital. This arrangement not only underscores the
real-world value of Safe & Green Holdings' assets, but also
provides the Company with greater flexibility to expand its
operations.
Waldron facility located in Durant, Oklahoma
"This marks a significant milestone for Safe
& Green Holdings as we continue to scale our operations to meet
the strong demand from our customers," said Paul Galvin,
Chairperson and CEO of Safe & Green Holdings. "The profit from
this transaction will significantly bolster our working capital,
allowing us to pursue growth opportunities more aggressively and
effectively. This transaction reflects our commitment to executing
strategic initiatives that enhance shareholder value while
maintaining operational excellence.”
Tricia Kaelin, Chief Financial Officer at Safe
& Green Holdings, stated, "Monetizing our equity in this asset
will provide working capital without any dilution to our
shareholders. We will also restructure the debt on the property,
which will be very beneficial to the Company and its
shareholders."
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 the Company’s
engagement of Northmarq Capital to secure a suitable deal and
partner for a sale-leaseback involving its Waldron facility located
in Durant, Oklahoma. 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, the Company’s ability to
successfully secure a suitable deal and partner for a
sale-leaseback involving its Waldron facility located in Durant,
Oklahoma, and the factors discussed in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2023, 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. Investor
Relations: Crescendo Communications,
LLC212-671-1020SGBX@crescendo-ir.com
- Waldron facility located in Durant, Oklahoma
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