Safe & Green Holdings Corp appoints new board member

MIAMI - Safe & Green Holdings Corp (NASDAQ: SGBX), a company specializing in modular structures and sustainable construction solutions, announced today the induction of technology innovator Samarth Verma to its Board of Directors. Verma, 46, steps into the role following the departure of Shafron Hawkins, who recently took up a government position.

Verma’s diverse background includes significant contributions to immersive media, advanced mathematics, and corporate development across various sectors such as hospitality, gaming, energy, and real estate. His current position as Co-Founder and Chairman of FansXR, a company delivering innovative fan-controlled broadcasting technologies, aligns with Safe & Green’s strategic focus on integrating smart technologies into modular infrastructure.

With an impressive early start in mathematics, Verma published his first research paper at the age of nine and later contributed to a NASA grant project as part of the Wisconsin Space Grant Consortium. His career has spanned multiple industries, where he has developed projects and marketed to large affinity groups.

Mike McLaren, Chairman and CEO of Safe & Green Holdings, praised Verma’s appointment, citing his "deep technical capability, visionary product leadership, and real-world experience scaling businesses" as valuable assets to the company’s growth and innovation initiatives.

In response to his appointment, Verma expressed his enthusiasm for joining the board during a transformative period for the company. He aims to apply his cross-sector experience to provide strategic guidance and support the company’s scaling efforts.

Safe & Green Holdings operates with a focus on developing and designing modular structures that cater to the demand for safer and more environmentally friendly construction solutions. The company supports various stakeholders in the construction industry, including developers, architects, builders, and owners, to achieve quicker project execution and greener building processes.

This announcement comes amid the company’s ongoing efforts to enhance its strategic growth and digital infrastructure initiatives. The information provided in this article is based on a press release statement from Safe & Green Holdings Corp.

In other recent news, Safe & Green Holdings Corp. has announced significant developments that may interest investors. The company has reported securing $108 million in funding, which includes a $100 million Equity Line of Credit Securities Purchase Agreement and an $8 million private placement facilitated by D. Boral Capital. This funding is aimed at supporting the company’s growth initiatives and strategic acquisitions. Among these acquisitions is the merger with New Asia Holdings, Inc., and the purchase of County Line Industrial, LLC, a provider of welding services in Oklahoma and Texas, which is expected to enhance revenue and profitability in Safe & Green’s modular manufacturing segment.

Additionally, the company has acquired a majority interest in Winchester Oil and Gas, LLC, which operates over 500 wells in Texas. These strategic moves align with Safe & Green’s focus on expanding its footprint in the energy sector and enhancing its operational capabilities. The company has also regained compliance with Nasdaq’s minimum equity standard, securing its continued listing on The Nasdaq Capital Market. However, Safe & Green Holdings faces a potential delisting from Nasdaq due to concerns about shareholder dilution from the issuance of Series B warrants. The company plans to appeal this decision and is preparing a compliance plan for the upcoming Nasdaq Hearings Panel.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.