Safe & Green Holdings Corp. Faces Delisting Warning from Nasdaq

Safe & Green Holdings Corp. (NASDAQ:SGBX) recently disclosed in an 8-K filing with the Securities and Exchange Commission that the company has received a delisting warning from The Nasdaq Stock Market LLC. The warning arose due to Safe & Green’s non-compliance with the $2.5 million stockholders’ equity requirement necessary for continued listing on The Nasdaq Capital Market, as outlined in Nasdaq Listing Rule 5550(b)(1).

In response to the warning, Safe & Green Holdings Corp. promptly requested a hearing before the Nasdaq Hearing Panel. This request effectively halted any imminent delisting action by Nasdaq, pending the outcome of the hearing and any potential extensions granted by the Panel.

The warning from Nasdaq underscores the importance for Safe & Green Holdings Corp. to address the stockholders’ equity deficiency and demonstrate compliance with Nasdaq’s listing requirements to maintain its listing status on the exchange.

Safe & Green Holdings Corp. currently trades on The Nasdaq Stock Market LLC under the ticker symbol SGBX. The company, headquartered at 990 Biscayne Blvd. #501, Office 12, Miami, FL 33132, can be reached at 646-240-4235.

Safe & Green Holdings Corp. filed this report on November 22, 2024, with Patricia Kaelin signing on behalf of the company as the Chief Financial Officer. Investors and stakeholders will be following developments closely as Safe & Green works towards resolving the compliance issue with Nasdaq.

The company stated no further actions as of the filing date, indicating ongoing discussions and strategies to address the stockholders’ equity requirement in line with Nasdaq’s regulations. Investors may anticipate forthcoming updates as the situation progresses.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Safe & Green’s 8K filing here.

About Safe & Green

Safe & Green Holdings Corp. designs and modifies code-engineered cargo shipping containers and purpose-built modules for commercial, industrial, and residential building construction in the United States. It redesigns, repurposes, and convert heavy-gauge steel cargo shipping containers into Safe & Green, which are green building blocks for construction.