Safe and Green Development Corporation (NasdaqCM:SGD) has signed a non-binding Letter of Intent to acquire unknow stake in Majestic World Holdings, LLC on November 21, 2023. As of January 4, 2024, Safe and Green Development Corporation has negotiated a complete acquisition of Majestic World Holdings, LLC. Transaction is subjected to approval by the Board of Directors and execution of definitive documents.

The acquisition is expected to close by the end of the first quarter 2024. Ruta Soulios & Stratis LLP acted as legal advisor to Safe and Green Development Corporation.