Safe and Green Development Corporation Executes Contract to Sell Lago Vista Site
Safe and Green Development Corporation (SGD)
Company Research
Source: GlobeNewswire
MIAMI, Fla, April 26, 2024 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ: SGD) (“SG Devco” or the “Company”) is pleased to announce the Company received and executed a commercial contract to sell the Company’s Lago Vista site to an unnamed buyer. The Lago Vista property is an approximately 60-acre waterfront property located on Lake Travis, Texas. After evaluating the current timeline of the joint offer and the purchase offer, the Company decided to sell the property to strategically reinforce its balance sheet. The closing of this transaction would result in approximately $5,000,000 of debt to be extinguished from the Company’s balance sheet and yield additional non-dilutive cash proceeds. David Villarreal, President & CEO of Safe and Green Development Corporation stated, “This is truly an exciting time for us as we continue to execute on our previously announced initiative to strategically monetize our real property. We believe the property will be
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- Safe and Green Development Corporation increases sales price of St Mary's to $1.4MGlobeNewswire
SGD
Sec Filings
- 6/14/24 - Form 424B3
- 6/14/24 - Form EFFECT
- 6/10/24 - Form 8-K
- SGD's page on the SEC website