Safe and Green Development Corporation announced that it has entered into a securities purchase agreement to issue 8% convertible debenture in principal amount of $1,200,000 on April 29, 2024. The debenture is convertible, at the option of the holder, at any time, into such number of shares of common stock of the company equal to the principal amount of the debenture plus all accrued and unpaid interest at a conversion price equal to $0.70 The transaction will include participation from returning investor, Peak One Opportunity Fund, L.P., a fund managed by, Peak One Investments, LLC. The Debenture matures twelve months from its date of issuance.

On the same day, the company issued 8% convertible debenture in principal amount of $350,000 issued at a discount of 10% for the gross proceeds of $315,000 and a warrant to purchase up to 262,500 shares at an exercise price of $0.76 and expires five years from its date of issuance in its first tranche closing. As a part of the closing, the company paid $10,000 as a non-accountable fee to the investor to cover its accounting fees, legal fees and other transactional costs and issued an aggregate total of 80,000 shares of its restricted common stock and paid a placement agent fee of $18,900. The closing of the second tranche is expected to close on June 28, 2024. The company has received $350,000 from single investor pursuant to exemption provided under Regulation D. The bonds will be matured on April 29, 2025.