Safe and Green Holdings Corp (SGBX)

[georgie18]

SGBX...$3.82...Buying in on the Institutional buy-in range...

Mon, October 25, 2021, 8:30 AM
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NEW YORK, October 25, 2021--(BUSINESS WIRE)--SG Blocks, Inc. (NASDAQ: SGBX) ("SG Blocks" or the "Company"), a leading designer, innovator and fabricator of modular structures, announced today it has entered into a securities purchase agreement with a single U.S. institutional investor for the purchase and sale of 3,164,384 shares of its common stock (or common stock equivalents in lieu thereof in the form of pre-funded warrants) together with warrants to purchase up to 1,898,630 shares of common stock for gross proceeds of approximately $11.55 million. Each share of common stock and accompanying common warrant are being sold together at a combined offering price of $3.65, and each common stock equivalent and accompanying common warrant are being sold together at a combined offering price of $3.649. The common stock equivalents will be immediately exercisable at a nominal exercise price of $0.001 and will expire when exercised in full. The common warrants will have an exercise price of $4.80 per share, will be exercisable upon issuance and will expire five years from the date of an issuance.

The offering is expected to close on or about October 27, 2021, subject to customary closing conditions.

A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.