Safe & Green Holdings Corp. Announces Distribution Date Of September 27, 2023, For Planned Spinoff Of SG DevCo To Nasdaq
Portfolio Pulse from Benzinga Newsdesk
Safe & Green Holdings Corp. (NASDAQ:SGBX) has announced the distribution date of September 27, 2023, for the planned spin-off of its real estate development subsidiary, Safe & Green Development Corp (SG DevCo). Approximately 30% of the outstanding shares of SG DevCo common stock will be distributed to SG Holdings' stockholders on a pro rata basis. The company expects commencement of trading on the Nasdaq Stock Market on September 19, 2023, under the ticker symbol 'SGDVV'.
September 19, 2023 | 12:01 pm
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Safe & Green Holdings Corp. is planning a spin-off of its subsidiary, SG DevCo. This could potentially impact the stock price of SGBX in the short term.
The announcement of a spin-off can often lead to volatility in a company's stock price. In this case, the spin-off of SG DevCo by Safe & Green Holdings Corp. could potentially impact the stock price of SGBX. However, the exact impact will depend on various factors, including investor sentiment and market conditions.
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