Safe & Green Holdings Corp. filed SEC Form 8-K: Other Events
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Item 8.01 Other Events.
On February 3, 2025, Safe & Green Holdings Corp. (the “Company”) announced that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) between the Company and New Asia Holdings Inc., a Nevada corporation (“NAHD”), pursuant to which NAHD will be merged into a subsidiary of the Company (the “Merger”). Following the Merger, NAHD and its subsidiaries Olenox Corp., a Nevada corporation, and Machfu Inc., a Delaware corporation, will be indirect, wholly owned subsidiaries of the Company.
As a result of the transaction, which positively impacts stockholders’ equity by approximately $60 million, as of the date of this filing the Company believes it has stockholders’ equity of at least $2.5 million as required by Nasdaq Listing Rule 5550(b)(1) (the “Rule”). The Company is awaiting Nasdaq’s confirmation that it has evidenced compliance with the Rule.
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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: February 3, 2025 | By: | /s/ Michael McLaren | |
| Name: | Michael McLaren | ||
| Title: | Chief Executive Officer | ||
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