Safe & Green Holdings Corp. Provides Detail On Expected Distribution Ratio For Spin-Off; Expected Distribution Ratio Of 0.93 For Every 5 Shares Of SG Holdings
Portfolio Pulse from Happy Mohamed
Safe & Green Holdings Corp. (NASDAQ:SGBX) has provided an update on the planned spin-off of its real estate development subsidiary, Safe & Green Development Corp (SG DevCo). Stockholders will be eligible to receive a distribution of approximately 0.93 shares of SG DevCo for every 5 shares of SG Holdings held. The distribution is expected to generate greater value for stockholders.
September 01, 2023 | 12:33 pm
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Safe & Green Holdings Corp. (NASDAQ:SGBX) is spinning off its subsidiary, SG DevCo. Stockholders will receive 0.93 shares of SG DevCo for every 5 shares of SG Holdings held.
The spin-off of SG DevCo from Safe & Green Holdings Corp. (NASDAQ:SGBX) is expected to generate greater value for stockholders. This could potentially lead to an increase in the stock price of SGBX in the short term.
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