---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-080468"
form_type: "8-K"
ticker: "RENX"
cik: "0001959023"
company_name: "RenX Enterprises Corp."
filed_at: "2023-09-28T23:59:59+00:00"
generated_at: "2026-06-10T07:50:36.897430+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Safe and Green Development spins off from SG Holdings; begins trading on Nasdaq as SGD

## Summary
- Spin-off completed Sep 27; SGBX distributed ~30% of SGD shares; holders got 0.930886 SGD per 5 SGBX shares.
- SGD begins regular-way trading on Nasdaq under ticker SGD on Sep 28.
- SGD pipeline exceeds $800M; plans to develop 4,000+ units.
- David Villarreal named President & CEO of SGD; Paul Galvin chairs board.
- Cash bonus of $35,100 to Paul Galvin for separation services approved by SG Holdings committee.

## SEC filing metadata
- accession: 0001213900-23-080468
- form_type: 8-K
- ticker: RENX
- cik: 0001959023
- company_name: RenX Enterprises Corp.
- filed_at: 2023-09-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1959023/000121390023080468/0001213900-23-080468-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1959023/000121390023080468/ea185728-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-080468
- JSON: https://secwatch.observer/filing/0001213900-23-080468.json
- Plain text: https://secwatch.observer/filing/0001213900-23-080468.txt

## Key facts
- Material Agreements
  RenX Enterprises Corp. entered into Separation and Distribution Agreement with SG Holdings valued at Separation and distribution agreement (effective 2023-09-26).
  - Action: entry
  - Agreement: supply
  - Counterparty: SG Holdings
  - Value: Separation and distribution agreement
  - Effective: 2023-09-26
  source text: On September 26, 2023, SG DevCo entered into a separation and distribution agreement and several other agreements with SG Holdings to effect the Separation and provide a framework for our relationship with SG Holdings after the Separation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1959023/000121390023080468/0001213900-23-080468-index.htm
- Material Agreements
  RenX Enterprises Corp. entered into Shared Services Agreement with SG Holdings valued at Shared services agreement (effective 2023-09-26).
  - Action: entry
  - Counterparty: SG Holdings
  - Value: Shared services agreement
  - Effective: 2023-09-26
  source text: In connection with the Separation, on September 26, 2023, we and SG Holdings entered into a shared services agreement which sets forth the terms on which SG Holdings will provide to us, on a transitional basis, certain services or functions that the companies historically have shared.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1959023/000121390023080468/0001213900-23-080468-index.htm
- Material Agreements
  RenX Enterprises Corp. entered into Tax Matters Agreement with SG Holdings valued at Tax matters agreement (effective 2023-09-26).
  - Action: entry
  - Counterparty: SG Holdings
  - Value: Tax matters agreement
  - Effective: 2023-09-26
  source text: In connection with the Separation, on September 26, 2023, we and SG Holdings entered into a tax matters agreement that contains certain tax matters arrangements and governs the parties’ respective rights, responsibilities, and obligations with respect to taxes, including taxes arising in the ordinary course of business and taxes incurred as a result of the Separation and the Distribution.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1959023/000121390023080468/0001213900-23-080468-index.htm

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