Safe & Green Holdings Enters Definitive Agreement to Merge with Olenox and Machfu.com

Core Viewpoint - Safe & Green Holdings Corp. has entered into a definitive Merger Agreement with New Asia Holdings, Inc. to acquire 100% of its outstanding securities, aiming to enhance its capabilities in sustainable energy and smart industrial automation [1][2]. Group 1: Merger Details - The acquisition will be executed through the issuance of non-voting convertible preferred shares of Safe & Green [2]. - The merger is structured as a two-step sign-and-close transaction, requiring approval from a majority of the Company's common shareholders and regulatory bodies [6]. Group 2: Company Profiles - Olenox Corp. operates in the energy sector with three business units: Oil & Gas Production, Energy Services, and Energy Technologies, focusing on revitalizing underdeveloped energy assets [3]. - Machfu.com specializes in industrial IoT, providing solutions that enhance connectivity and operational efficiency across various industries, with over 20,000 gateways deployed globally [4]. Group 3: Strategic Integration - Post-merger, Safe & Green plans to integrate Olenox's energy assets and Machfu's IoT capabilities with its existing operations, leveraging its modular fabrication expertise [5]. - Management anticipates that the synergies from this merger will drive revenue growth and improve operational efficiencies [5]. Group 4: Leadership Perspective - The CEO of Safe & Green believes that the merger will create a diversified, high-growth company at the intersection of energy and technology, providing a robust foundation for expansion into sustainable energy and digital transformation [6].