Core Points - Safe and Green Development Corporation (SGD) has resolved inter-company financial obligations with Safe & Green Holdings Corp. (SGBX) [1][2] - SGD has forgiven a promissory note of 815,522, while SGBX has forgiven $394,329 of debt owed to it by SGD and transferred 276,425 shares of SGD Common Stock to SGD [2] - Following this agreement, SGBX will no longer hold shares in SGD, and SGD plans to hold the transferred shares in its treasury [2][3] Company Overview - Safe and Green Development Corporation is a real estate development company established in 2021, focusing on acquiring and investing in properties for future development into green single or multi-family projects [4] - The company has a wholly-owned subsidiary, Majestic World Holdings LLC, which operates a prop-tech company that has developed a real estate AI platform to enhance margins on homes sold [4] - Another subsidiary, MyVONIA Innovations LLC, owns MyVONIA, an AI-powered personal assistant aimed at simplifying daily tasks and improving productivity for individuals and businesses [4]
Safe and Green Development Corporation Acquires All SGD Shares Held By Safe & Green Holdings Corp.