Safe and Green Development sells St Mary's site for $1.35M; CEO/CFO pay raises, RSU vesting accelerated

RenX Enterprises Corp.

Agreement to sell ~29-acre manufacturing-zoned St Mary's, GA property to Pigmental Studios for $1.35M ($900K cash, $450K note at 10% interest).
CEO David Villarreal salary raised to $450K, CFO Nicolai Brune to $302K effective Nov 1, 2023.
All 216,668 RSUs for CEO and 66,668 RSUs for CFO accelerated; each gets 3-week cash bonus.
Sale expected to close on or about April 1, 2024; proceeds to strengthen balance sheet.
Company remains active in St Mary's region via Cumberland Inlet Project investment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RenX Enterprises Corp. entered into Agreement of Sale with Pigmental, LLC valued at $1.35 million (effective 2024-01-31).

Action: entry
Agreement: asset purchase
Counterparty: Pigmental, LLC
Value: $1.35 million
Effective: 2024-01-31

Exact text from the filing

On January 31, 2024, Safe and Green Development Corporation (the “Company”) entered into an Agreement of Sale (the “Agreement of Sale”) with Pigmental, LLC, a Delaware limited liability company (“Pigmental Studios”), to sell approximately 27 acres of land zoned for a manufacturing facility in St. Mary’s, Georgia (the “St Mary’s Industrial Site”) owned by the Company to Pigmental Studios for $1.35 million

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

RenX Enterprises Corp. filing history →

Source: SEC EDGAR

accession 0001213900-24-010539

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.