other_material
confidence high
sentiment neutral
materiality 0.80
Safe & Green Holdings Corp. raises $4.05 million via private placement of Series C convertible preferred stock
OLENOX INDUSTRIES INC.
- Sold 4,500 Series C preferred shares at $1,000 stated value to JAK Industrial Ventures I LLC for initial proceeds of $4,050,000.
- Conversion price is $3.19 per common share; additional up to 45,500 preferred shares may be issued at option of buyer or company.
- Net proceeds after placement agent fees and expenses were approximately $2,799,500; WestPark Capital Inc. received 7% commission plus $25,000 expense reimbursement.
- Series C preferred stock ranks senior to common stock for dividends and liquidation, and carries registration rights for resale.
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