RenX Enterprises Corp. (RENX): M&A transaction — Safe and Green Development sells 60% JV interest for $700k promissory note

RenX Enterprises Corp.

Sold 60% interest in Sugar Phase I LLC to Milk & Honey for $700,415.24, evidenced by a one-year 10% promissory note.
Closing occurred March 7, 2025; Milk & Honey prepaid $120,000, transferring 10.27% interest, SGD now holds 49.73%.
Sale follows deadlock under the JV agreement; SGD exits incrementally as note is repaid.
Parties executed a mutual release, except Milk & Honey's obligations under the promissory note until paid in full.

Key facts

Extracted from this filing and checked against the source text.

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

RenX Enterprises Corp. completed a disposition involving Properties by Milk & Honey LLC for $700,415.24 (closed 2025-03-07).

Action: disposition
Counterparty: Properties by Milk & Honey LLC
Consideration: $700,415.24
Closing: 2025-03-07

Exact text from the filing

(the “Interest”) in Sugar Phase I LLC, a joint venture (the “JV”) established under a Joint Venture Agreement with Milk & Honey, dated July 23, 2024, for a purchase price of $700,415.24, reflecting amounts contributed and costs incurred by the Company in connection with the Sugar Phase I project, to be evidenced by a one-year promissory note (the “Note”) in the

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Source: SEC EDGAR

accession 0001213900-25-022742

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