---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-022712"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2024-03-15T23:59:59+00:00"
generated_at: "2026-06-04T16:29:34.081698+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Safe & Green Holdings issues $149,500 convertible promissory note to 1800 Diagonal Lending

## Summary
- Principal $149,500; purchase price $130,000 (original issue discount $19,500).
- One-time 10% interest on issuance; nine monthly payments of $18,272.23 starting April 15, 2024.
- Default interest 22%; upon default after six months, lender can convert at greater of $0.08 or 65% of lowest closing bid over prior 10 days.
- Conversion capped at 4.99% ownership and 19.99% of outstanding (waived upon Nasdaq delisting).
- SPA contemplates up to $1,000,000 additional tranches over 12 months subject to further agreement.

## SEC filing metadata
- accession: 0001213900-24-022712
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2024-03-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1023994/000121390024022712/0001213900-24-022712-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390024022712/ea0201836-8k_safegreen.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-022712
- JSON: https://secwatch.observer/filing/0001213900-24-022712.json
- Plain text: https://secwatch.observer/filing/0001213900-24-022712.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred loan of $149,500 with 1800 Diagonal Lending LLC at ten percent (10%) maturing nine monthly payments of accrued, unpaid interest and outstanding principal, subject to adjustment.
  - Instrument: loan
  - Principal: $149,500
  - Counterparty: 1800 Diagonal Lending LLC
  - Rate: ten percent (10%)
  - Maturity: nine monthly payments of accrued, unpaid interest and outstanding principal, subject to adjustment
  - Event: incurrence
  source text: On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024022712/0001213900-24-022712-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Securities Purchase Agreement with 1800 Diagonal Lending LLC (effective 2024-03-05).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: 1800 Diagonal Lending LLC
  - Effective: 2024-03-05
  source text: On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024022712/0001213900-24-022712-index.htm
- Material Agreements
  OLENOX INDUSTRIES INC. entered into Promissory Note with 1800 Diagonal Lending LLC valued at $149,500 (effective 2024-03-05).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: 1800 Diagonal Lending LLC
  - Value: $149,500
  - Effective: 2024-03-05
  source text: On March 5, 2024, Safe & Green Holdings Corp. (the “Company”) issued a Promissory Note (“Note”) in favor of 1800 Diagonal Lending LLC (the “Lender”) in the aggregate principal amount of $149,500 (the “Principal”), and an accompanying Securities Purchase Agreement, dated March 5, 2024 (the “SPA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390024022712/0001213900-24-022712-index.htm

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