Safe and Green Development Corporation announced that it has entered into a Securities Purchase Agreement with new investor, Peak One Opportunity Fund, L.P. managed by Peak One Investments, LLC, pursuant to which the Company agreed to issue 8% convertible debenture in the aggregate principal amount of $1,200,000 on November 30, 2023. The Debenture matures twelve months from its date of issuance and bear interest at a rate of 8% per annum payable on the maturity date. 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 $2.14. The minimum investment accepted from any outside investor is $1,200,000. The company will issue securities pursuant to exemption provided under Regulation D. The securities are issued in reliance upon an exemption from registration contained in Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder.

On the same day, the company issued an 8% convertible debenture in principal amount of $700,000 in its first tranche. A second closing may occur at any time after January 29, 2024, upon which the company would issue a second convertible debenture in the principal amount of $500,000 pursuant to Regulation D.