Extracted from this filing and checked against the source text.
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
OLENOX INDUSTRIES INC. entered into Settlement and Release Agreement with Maxim Group LLC valued at $187,500 of the Company’s common stock; (ii) $187,500 cash payment; and (iii) a $375,000 promissory (effective 2024-02-09).
- Action
- entry
- Agreement
- settlement
- Counterparty
- Maxim Group LLC
- Value
- $187,500 of the Company’s common stock; (ii) $187,500 cash payment; and (iii) a $375,000 promissory
- Effective
- 2024-02-09
Exact text from the filing
On February 9, 2024, Safe & Green Holdings Corp. (the “Company”) entered into a Settlement and Release Agreement (the “Settlement agreement”) with Maxim Group LLC (together with its parents, subsidiaries and affiliates, “Maxim”) wherein the Company agreed, contingent upon the closing of a current proposed best efforts offering, to pay the following consideration in settlement of amounts owed to Maxim in connection with the spin-off of Safe and Green Development Corporation: (i) $187,500 of the Company’s common stock; (ii) $187,500 cash payment; and (iii) a $375,000 promissory note bearing interest at a rate of 5% with a maturity date of the twelve month anniversary of the issuance date.
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