secwatch.observer — SEC 8-K summary
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Issuer:     OLENOX INDUSTRIES INC. (OLOX)
CIK:        0001023994
Form:       8-K
Filed at:   2023-06-29T23:59:59+00:00
Accession:  0001213900-23-052945
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe & Green subsidiary secures up to $2M loan from BCV S&G at 14%, due Dec 2024
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- Loan of up to $2,000,000 from BCV S&G DevCorp; $1,250,000 drawn to date.
- Interest at 14% per annum, maturity December 1, 2024.
- Secured by 1,999,999 shares (19.99% of SG DevCo) pledged by parent Safe & Green Holdings.
- Additional collateral (St. Mary's, GA industrial site) required if Nasdaq listing not achieved by Aug 30, 2023 or pledged share value < 2x loan.
- Fees: $70,000 origination, $27,500 annual maintenance, $37,500 broker fees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023052945/0001213900-23-052945-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023994/000121390023052945/ea181075-8k_safeandgreen.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-052945

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