---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-25-052773"
form_type: "8-K"
ticker: "OLOX"
cik: "0001023994"
company_name: "OLENOX INDUSTRIES INC."
filed_at: "2025-06-10T23:59:59+00:00"
generated_at: "2026-05-19T15:01:26.430523+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Safe & Green subsidiary Olenox enters $2M revolving credit line with Prosperity Bank

## Summary
- Olenox Corp, wholly-owned subsidiary, borrowed $2M from Prosperity Bank via promissory note dated June 2, 2025.
- Note bears 5% interest, due on demand or June 2, 2026; monthly interest payments begin July 2, 2025.
- Loan secured by Company's $2M certificate of deposit; net proceeds $1,984,998 after $15,002 fees.
- CEO Michael McLaren provides commercial guaranty; default interest rate 18%.
- Line of credit for general corporate purposes; lender has right of setoff against all borrower's accounts.

## SEC filing metadata
- accession: 0001213900-25-052773
- form_type: 8-K
- ticker: OLOX
- cik: 0001023994
- company_name: OLENOX INDUSTRIES INC.
- filed_at: 2025-06-10T23:59:59+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/1023994/000121390025052773/0001213900-25-052773-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1023994/000121390025052773/ea0245203-8k_safe.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-25-052773
- JSON: https://secwatch.observer/filing/0001213900-25-052773.json
- Plain text: https://secwatch.observer/filing/0001213900-25-052773.txt

## Key facts
- Debt Financings
  OLENOX INDUSTRIES INC. incurred credit facility of $2,000,000 with Prosperity Bank at five percent (5%) per annum maturing June 2, 2026.
  - Instrument: credit facility
  - Principal: $2,000,000
  - Counterparty: Prosperity Bank
  - Rate: five percent (5%) per annum
  - Maturity: June 2, 2026
  - Event: incurrence
  source text: On June 3, 2025 (the “Effective Date”), Olenox Corp. (the “Borrower”), a wholly owned subsidiary of Safe & Green Holdings Corp. (the “Company”), entered into a Promissory Note (the “Note”) in favor of Prosperity Bank (the “Lender”) in the aggregate principal amount of $2,000,000 (the “Principal”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1023994/000121390025052773/0001213900-25-052773-index.htm

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