RenX Enterprises Corp. (RENX): Nasdaq/NYSE listing notice — Safe & Green sells 10% stake in JDI-Cumberland for $4.5M note; gets Nasdaq compliance extension to Feb 24, 2025

RenX Enterprises Corp.

Sold 10% equity interest in JDI-Cumberland Inlet, LLC for a $4.5M promissory note at 6.5% interest, matures Feb 11, 2026.
Note secured by pledge of 10% equity in JDI-Cumberland and guaranteed by Jacoby Development Inc.
Company believes sale regains compliance with Nasdaq's $2.5M equity requirement; extension through Feb 24, 2025.
If compliance not shown at next periodic report, company may face delisting.

item 1.01 item 2.01 item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

RenX Enterprises Corp. received a nasdaq extension granted notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: extension granted
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

January 22, 2025, the Company received written notification from Nasdaq granting the Company’s request for an extension through February 24, 2025 to evidence compliance with the Rule. The terms of the extension are as fo

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Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.9

RenX Enterprises Corp. received a nasdaq extension granted notice regarding stockholders equity (rules 5550(b)(1)).

Exchange: nasdaq
Notice: extension granted
Deficiency: stockholders equity
Rules: 5550(b)(1)

Exact text from the filing

January 22, 2025, the Company received written notification from Nasdaq granting the Company’s request for an extension through February 24, 2025 to evidence compliance with the Rule. The terms of the extension are as follows: on or before February 24, 2025, the Company must complete a significant portion of its Initiatives and may evidence compliance with the Rule by furnishing to the SEC and Nasdaq a publicly available report including: 1. A disclosure of Staff’s deficiency letter and the specific deficiency(ies) cited; 2. A description of the completed transaction or event that enabled the

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

RenX Enterprises Corp. completed a disposition involving JDI-Cumberland Inlet, LLC for $4.5 million (closed 2025-02-11).

Action: disposition
Counterparty: JDI-Cumberland Inlet, LLC
Consideration: $4.5 million
Closing: 2025-02-11

Exact text from the filing

pursuant to which JDI-Cumberland acquired the Company’s 10% equity interest (the “LLC Interest”) in JDI-Cumberland in exchange for a promissory note (the “Note”) from JDI-Cumberland in the principal amount of $4.5 million.

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RenX Enterprises Corp. filing history →

Source: SEC EDGAR

accession 0001213900-25-013032

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