Safe and Green Development Corporation announced that it expects to receive $1.165 million in funding from Peak One Investments, LLC
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.