---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-080466"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T07:21:36.581837+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Safe & Green Holdings completes spin-off of SG DevCo; SGD begins trading on Nasdaq

## Summary
- Distribution of 0.930886 SGD shares for every 5 SGBX shares held on Sept 8 record date; fractional shares paid in cash.
- SG DevCo begins trading on Nasdaq under ticker SGD; David Villarreal CEO, Nicolai Brune CFO.
- SG DevCo pipeline exceeds $800M with plans for over 4,000 units; Paul Galvin to chair board.
- CEO Paul Galvin receives $35,100 cash bonus approved by compensation committee for separation services.

## SEC filing metadata
- accession: 0001213900-23-080466
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390023080466/0001213900-23-080466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390023080466/ea185853-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-080466
- JSON: https://secwatch.observer/filing/0001213900-23-080466.json
- Plain text: https://secwatch.observer/filing/0001213900-23-080466.txt

## Key facts
- M&A Transactions
  OLENOX INDUSTRIES INC. completed a disposition involving Safe and Green Development Corporation for pro-rata distribution of approximately 30% of the outstanding shares of SG DevCo common stock (closed 2023-09-27).
  - Action: disposition
  - Counterparty: Safe and Green Development Corporation
  - Consideration: pro-rata distribution of approximately 30% of the outstanding shares of SG DevCo common stock
  - Closing: 2023-09-27
  source text: he previously announced separation (the “Separation”) of Safe and Green Development Corporation (“SG DevCo”) from the Company. The Separation of SG DevCo from SG Holdings was achieved through SG Holdings’ pro-rata distribution
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023080466/0001213900-23-080466-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into separation and distribution agreement with SG DevCo valued at entered into a separation and distribution agreement (effective 2023-09-26).
  - Action: entry
  - Agreement: supply
  - Counterparty: SG DevCo
  - Value: entered into a separation and distribution agreement
  - Effective: 2023-09-26
  source text: On September 26, 2023, SG Holdings entered into a separation and distribution agreement and several other agreements with SG DevCo to effect the Separation and provide a framework for our relationship with SG DevCo after the Separation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390023080466/0001213900-23-080466-index.htm

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