---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-041743"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2023-05-22T23:59:59+00:00"
generated_at: "2026-06-14T17:51:33.336220+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# Safe & Green subsidiary sells $710.5K future receivables for $475K net cash advance

## Summary
- SG Building Blocks sold $710,500 of future receivables for $500,000 purchase price, netting $475,000 after fees.
- Cedar Advance will collect $25,375 weekly via ACH debit until the full $710,500 is remitted.
- The obligations under the agreement are guaranteed by another subsidiary, SG Echo, LLC.
- Upon default, Cedar may demand immediate payment of all remaining amounts due.

## SEC filing metadata
- accession: 0001213900-23-041743
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2023-05-22T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/0001213900-23-041743-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/ea178885-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-041743
- JSON: https://secwatch.observer/filing/0001213900-23-041743.json
- Plain text: https://secwatch.observer/filing/0001213900-23-041743.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred debt of $710,500 with Cedar Advance LLC.
  - Principal: $710,500
  - Counterparty: Cedar Advance LLC
  - Event: incurrence
  source text: On May 16, 2023, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) pursuant to which SG Building Blocks sold to Cedar $710,500 of its future receivables for a purchase price of $500,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/0001213900-23-041743-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Cash Advance Agreement with Cedar Advance LLC valued at $710,500 (effective 2023-05-16).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Cedar Advance LLC
  - Value: $710,500
  - Effective: 2023-05-16
  source text: On May 16, 2023, SG Building Blocks, Inc. (“SG Building Blocks”), a wholly owned subsidiary of Safe & Green Holdings Corp.(the “Company”), entered into a Cash Advance Agreement (“Cash Advance Agreement”) with Cedar Advance LLC (“Cedar”) pursuant to which SG Building Blocks sold to Cedar $710,500 of its future receivables for a purchase price of $500,000, less underwriting fees and expenses paid, for net funds provided of $475,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023041743/0001213900-23-041743-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.