---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-022185"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2025-03-10T23:59:59+00:00"
generated_at: "2026-05-25T00:43:17.815094+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Safe & Green enters $360K convertible promissory note with GS Capital Partners

## Summary
- Net proceeds of $300K after $60K original issue discount; 15% annual interest with first 12 months ($54K) guaranteed.
- Monthly payments of $44K starting June 3, 2025, final payment due March 3, 2026.
- Conversion price set at $0.65 per share, subject to shareholder approval under Nasdaq Rule 5635(d).
- 275,000 commitment shares issued as additional consideration; conversion capped at 4.99% beneficial ownership.
- Event of default includes failure to pay or issue conversion shares; alternate conversion price of $0.52 post-default.

## SEC filing metadata
- accession: 0001213900-25-022185
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2025-03-10T23:59:59+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/1023994/000121390025022185/0001213900-25-022185-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390025022185/ea0233730-8k_safe.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-022185
- JSON: https://secwatch.observer/filing/0001213900-25-022185.json
- Plain text: https://secwatch.observer/filing/0001213900-25-022185.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred convertible notes of $360,000 with GS Capital Partners, LLC at fifteen percent (15%) per annum maturing March 3, 2026.
  - Instrument: convertible notes
  - Principal: $360,000
  - Counterparty: GS Capital Partners, LLC
  - Rate: fifteen percent (15%) per annum
  - Maturity: March 3, 2026
  - Event: incurrence
  source text: On March 3, 2025 (the “Issue Date”), Safe & Green Holdings Corp. (the “Company”) executed and issued a Promissory Note (“Note”) in favor of GS Capital Partners, LLC (the “Lender”) in the aggregate principal amount of $360,000 (the “Principal”), and an accompanying Securities Purchase Agreement (the “SPA”) and Registration Rights Agreement (the “RRA”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390025022185/0001213900-25-022185-index.htm

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