---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-012609"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2024-02-12T23:59:59+00:00"
generated_at: "2026-06-06T04:05:39.741694+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Safe & Green settles Maxim spin-off debt with $375K note, $187.5K stock and cash

## Summary
- Settlement with Maxim Group resolves amounts owed from Safe and Green Development Corp spin-off.
- Consideration: $187,500 in common stock, $187,500 cash, and $375,000 promissory note at 5% interest.
- Promissory note matures 12 months from issuance; agreement contingent on closing of proposed best efforts offering.
- Settlement agreement dated February 9, 2024; reported via Item 1.01 8-K.

## SEC filing metadata
- accession: 0001213900-24-012609
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2024-02-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390024012609/0001213900-24-012609-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390024012609/ea193441-8k_safeandgreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-012609
- JSON: https://secwatch.observer/filing/0001213900-24-012609.json
- Plain text: https://secwatch.observer/filing/0001213900-24-012609.txt

## Key facts
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024012609/0001213900-24-012609-index.htm

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