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MIAMI - Safe & Green Holdings Corp. (NASDAQ:SGBX) has received an extension from Nasdaq to regain compliance with continued listing requirements, the modular construction company announced Monday.
The Nasdaq Hearings Panel granted Safe & Green additional time to complete its previously announced reverse stock split after acknowledging the company’s progress toward meeting listing standards. Under the extension terms, the company must complete the reverse split and maintain a minimum bid price of at least $1.00 per share for ten consecutive trading sessions by September 22, 2025.
"We are pleased that Nasdaq has recognized the progress we have made and granted us additional time to complete the reverse stock split," said Mike Mclaren, CEO of Safe & Green Holdings.
The company, which develops sustainable solutions and modular infrastructure, stated it has already met prior milestones established by Nasdaq and continues working toward full compliance with all listing requirements.
Safe & Green Holdings serves multiple industries including healthcare, education, energy, and government sectors through its subsidiaries that focus on modular construction and sustainable infrastructure solutions.
The announcement was made in a company press release issued Monday.
In other recent news, Safe & Green Holdings Corp. announced a restructuring of its private placement with D. Boral Capital, eliminating Series A and Series B Common Stock Warrants, which significantly reduces potential shareholder dilution by approximately 70%. This move addresses concerns raised by the Nasdaq Hearings Panel. The company also received conditional approval to maintain its Nasdaq listing, contingent upon meeting specific requirements by August 28, 2025, including completing a reverse stock split and achieving a closing bid price of at least $1.00 per share for ten consecutive business days. Additionally, Safe & Green Holdings was awarded approximately $1.157 million to cover legal fees related to its lawsuit against EDI International, adding to a previous jury verdict of $1.274 million in damages. The company has also announced plans to acquire Giant Containers Inc., a significant player in modular container-based infrastructure, to enhance its project pipeline. The acquisition includes Giant’s active projects valued at $6.8 million and the appointment of Daniel Kroft as Vice President of Business Development at Safe & Green. These developments reflect the company’s ongoing strategic efforts to strengthen its market position and address regulatory requirements.
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