Safe & Green Holdings Secures $600,000 Advance Against The Recently Announced $1.5M Refund From The IRS Employee Retention Tax Credit Refund
Portfolio Pulse from Happy Mohamed
Safe & Green Holdings Corp. (SGBX) has secured a $600,000 advance against a $1.5 million IRS Employee Retention Tax Credit refund. The advance is non-dilutive and will support growth opportunities, including ramping up factories for an expected significant purchase order. The company may also secure an additional $700,000 advance against the ERTC.
December 26, 2023 | 1:33 pm
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Safe & Green Holdings Corp. received a $600,000 advance against a future $1.5 million IRS refund, which will aid in growth and factory preparations for a significant order.
The $600,000 advance is likely to have a positive short-term impact on SGBX's stock price as it provides immediate capital to support growth without diluting shareholder value. The anticipation of a significant purchase order and the potential to secure an additional $700,000 advance further bolster the positive outlook. However, the exact timing and impact of the IRS refund and the purchase order on the company's financials are not specified, which introduces some uncertainty.
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