Safe and Green Development closes $2.22M second tranche convertible debenture offering with Arena Investors

RenX Enterprises Corp.

Issued $2,222,222 aggregate principal 10% convertible debentures at $2,000,000 purchase price (10% OID).
Debentures mature in 18 months, bear 10% PIK interest, convertible at lower of $3.48 or 92.5% of 10-day VWAP (floor $0.90).
Issued warrants to purchase 170,892 shares at $3.476 per share, expiring in 5 years.
Placement agent Maxim Group received $120,000 fee; company also reimbursed Arena $10,000 legal fees.
Amendment to first closing debentures to fix floor price to comply with Nasdaq rules.

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