Safe & Green Holdings Enters Securities Purchase Agreement With A Single Institutional Investor For Purchase And Sale Of 1,379,310 Shares Of Common Stock And Warrants At combined Offering Price Of $2.90 Per Share In Private Placement
Portfolio Pulse from Benzinga Newsdesk
Safe & Green Holdings (SGBX) has entered into a securities purchase agreement with an institutional investor for the sale of 1,379,310 shares of common stock and warrants at a combined offering price of $2.90 per share in a private placement.
May 06, 2024 | 12:07 pm
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Safe & Green Holdings has agreed to a private placement of 1,379,310 shares and warrants at $2.90 each with an institutional investor.
The private placement of shares and warrants by Safe & Green Holdings (SGBX) at a set price of $2.90 per share indicates a strategic move to raise capital. While this could dilute current shareholders' equity, the influx of capital might be used for growth or operational purposes, potentially stabilizing the company's financial position in the short term. The impact on the stock price could be neutral in the short term as the benefits of capital raising could offset the dilutive effect.
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