Safe & Green Holdings Corp. Announces Settlement In Legal Action Taken Against Select Stockholders
Portfolio Pulse from Benzinga Newsdesk
Safe & Green Holdings Corp. (NASDAQ:SGBX) has reached a settlement agreement with two of its stockholders, resolving a previously announced litigation. As part of the settlement, the company received a three-month irrevocable proxy from the stockholders, giving the company the right to vote the shares of common stock held by them, which represents approximately 23.85% of the company's issued and outstanding common stock.
September 27, 2023 | 12:33 pm
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NEUTRAL IMPACT
The settlement of the legal action and the acquisition of voting rights over a significant portion of the company's stock could potentially influence the company's decision-making process and stock price.
The settlement of the legal action removes a potential risk factor for the company. However, the acquisition of voting rights over a significant portion of the company's stock could potentially influence the company's decision-making process, which could have an impact on the stock price. The exact impact is uncertain and will depend on how the company uses these voting rights.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100