Form 8-K - Current report
June 10 2024 - 6:48AM
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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):
June 6, 2024
SAFE AND GREEN DEVELOPMENT CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Delaware |
|
001-41581 |
|
87-1375590 |
(State or Other Jurisdiction
of Incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification Number) |
100 Biscayne Blvd., #1201
Miami, FL 33132
(Address of Principal Executive Offices, Zip Code)
Registrant’s telephone number, including
area code: 904-496-0027
990 Biscayne Blvd.
#501, Office 12
Miami, FL 33132
(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 $0.001 |
|
SGD |
|
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 June 6, 2024, Safe and Green Development Corporation (the “Company”)
completed the acquisition of all of the assets related to the A.I technology known as My Virtual Online Intelligent Assistant (“MyVONIA”)
pursuant to the previously disclosed Asset Purchase Agreement, dated as of May 7, 2024, by and between the Company and Dr. Axely Congress
(the “APA”). MyVONIA, an advanced artificial intelligence (AI) assistant, utilizes machine learning and natural language processing
algorithms to provide users with human-like conversational interactions, tailored to their specific needs. MyVONIA does not require an
app, or website but is accessible to subscribers via text messaging. The purchase price for MyVONIA is up to 500,000 shares of the Company’s
common stock, par value $0.001. Of such shares, 200,000 shares of common stock were issued at the closing on June 6, 2024, with an additional
300,000 shares of common stock issuable upon the achievement of certain benchmarks. Pursuant to the APA, Dr. Congress has agreed to a
non-compete. In connection with the closing, Dr. Congress also entered into a consulting agreement with the Company (the “Consulting
Agreement”) to continue to develop MyVONIA and provide such other services as are required pursuant thereto under which Dr. Congress
will receive a consulting fee of $10,000 a month. The Consulting Agreement has a term of two years and has a non-compete.
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.
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Safe and Green Development Corporation |
Dated: June 10, 2024 |
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|
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By: |
/s/ Nicolai Brune |
|
Name: |
Nicolai Brune |
|
Title: |
Chief Financial Officer |
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