The Company continues to reinforce its commitment to shareholder and work to provide transparency in the Public Market
Safe & Green Holdings Corp. (NASDAQ:SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures announced today that it has filed a third complaint with the U.S. Securities and Exchange Commission’s Delinquent Filing Group within the Division of Enforcement against a group of affiliated beneficial shareholders believed to own a large amount of the Company’s common stock, who despite the Company’s best efforts, have failed to report their ownership as required under Section 13 of the Securities Exchange Act of 1934.
The Company has made additional attempts to encourage the connected shareholders to come into compliance with Section 13 of the Exchange Act after the filing of a second complaint on December 29, 2022, yet no action has been taken by them. Given this group of shareholders is believed to control a large amount of the Company’s float, yet not disclosing this publicly, the Company felt it had no choice but to file its third complaint with the SEC to ensure that all shareholders and potential investors have accurate information, as required by law, as to its top shareholders.
“Today’s actions to pursue a third complaint with the US Securities and Exchange Commission’s Delinquent Filing Group further strengthens our commitment to provide transparency and fair market conditions to all Safe & Green Holdings shareholders,” said CEO and Chairman Paul Galvin. “We believe that our recent actions as a Company and the continued protection of our shareholders will benefit all parties involved and help eliminate any bad actors in the process.”
“We are continuing to pursue a resolution to this issue until it is solved, and we will not relent until this group is compliant and follows the regulations that all other shareholders must follow,” Paul Galvin concluded.
