Safe & Green Holdings Corp. Reports Progress on Planned Sale of Lago Vista Site
June 08 2023 - 8:30AM
Business Wire
Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe &
Green Holdings” or the “Company”), a leading developer,
designer, and fabricator of modular structures for residential,
commercial, and point-of-care medicine, announced today that the
auction and planned sale of its Lago Vista site in the greater
Austin Texas area is well underway. The initial phase of the
auction, conducted by Crexi, a commercial real estate marketplace,
generated significant interest and is now closed. The process has
now progressed to the next phase of direct negotiations with
interested parties.
Paul Galvin, Chairman and CEO of Safe & Green Holdings,
commented, “Consistent with our strategy to maximize the value of
assets, I am quite encouraged by the number of parties and serious
interest to purchase our Lago Vista site. We remain confident the
site will ultimately be sold for substantially higher than the
initial purchase price, providing us additional non-dilutive
capital and strengthening our balance sheet. We look forward to
providing further updates on the planned sale of the site in the
coming weeks.”
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 Safe &
Green Holdings’ factories and operated by the SG Echo subsidiary.
For more information, visit 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 site ultimately being sold for
substantially higher than the initial purchase price, providing the
Company with additional non-dilutive capital and strengthening its
balance sheet and providing further updates on the planned sale of
the site in the coming weeks. While Safe & Green Holdings Corp.
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, among others, the Company’s ability to sell
the site at a favorable price, if at all, the Company’s ability to
expand within various verticals as planned, the Company’s ability
to position itself for future profitability, the Company’s ability
to maintain compliance with the NASDAQ listing requirements, and
the other 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/20230608005332/en/
Investor Relations: Crescendo Communications, LLC (212)
671-1020 sgbx@crescendo-ir.com
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