Safe and Green Development Corporation Acquires XENE Real Estate AI Software
Safe and Green Development Corporation (SGD)
Company Research
Source: GlobeNewswire
MIAMI, Fla, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ: SGD) (“SG Devco” or the “Company”), today announced that it has closed on the previously announced acquisition of Majestic World Holdings (“MWH”), a real estate technology firm and owner of the Xene AI Software platform (“XENE Platform”). The purchase price for the acquisition consists of an aggregate of $500 thousand in cash to be paid over 5 quarters and 500,000 shares of SG Devco restricted stock valued at $1.075 million, or $2.15 per share. Under the terms of the agreement, Matthew Barstow, MWH CEO & President will become Senior Vice President of Innovation at SG Devco. The acquisition is a milestone in the company’s short history and adds a new vertical to the SG DevCo portfolio. The addition of MWH diversifies SG DevCo’s business interests and adds a new source of potential revenue. David Villarreal, President & CEO of Safe and Green Development Corporation, stated, “Majestic
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SGD
News
- Safe and Green Development Corporation to Acquire MyVonia, a Cutting-Edge AI AssetGlobeNewswire
- Safe and Green Development Corporation Expects to Close the Sale of St. Mary’s Site in May 2024GlobeNewswire
- Safe and Green Development Corporation Executes Contract to Sell Lago Vista SiteGlobeNewswire
- Safe and Green Development Corp Launches XENE Home AI PlatformGlobeNewswire
- Safe & Green Holdings Corp Provides Update on Its Audit and Planned 10-K Filing for the Year Ended December 31, 2023 [Yahoo! Finance]Yahoo! Finance
SGD
Sec Filings
- 5/6/24 - Form S-1/A
- 5/3/24 - Form S-1
- 5/3/24 - Form 8-K
- SGD's page on the SEC website