Safe And Green Development Corporation To Secure Up To $2M Of Non-Dilutive Funding
Portfolio Pulse from Happy Mohamed
Safe & Green Holdings Corp. (NASDAQ:SGBX) has secured a commitment for a bridge loan of up to $2 million from a European entity for its subsidiary, Safe and Green Development Corporation (SG DevCo). The company has already secured $1 million, and the loan will bear a 14% interest rate per annum.
June 14, 2023 | 12:33 pm
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Safe & Green Holdings Corp. secures up to $2 million in non-dilutive funding for its SG DevCo subsidiary, which may accelerate the growth of the business.
The secured bridge loan of up to $2 million for Safe & Green Holdings Corp.'s subsidiary, SG DevCo, provides the company with additional funding to accelerate its growth. This non-dilutive funding is a positive sign for the company's financial strength and may generate a high return on capital for shareholders, which could lead to a short-term positive impact on the stock price.
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