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Safe & Green Holdings Corp. (NASDAQ:SGBX) announced Monday that it received a decision letter from the Nasdaq Hearings Panel granting the company’s request for continued listing on the Nasdaq Capital Market. The approval is subject to Safe & Green Holdings meeting all continued listing requirements by August 28, 2025.
According to a press release statement, the company must complete a reverse stock split and achieve a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days by the deadline to comply with Nasdaq Listing Rule 5550(a)(2). InvestingPro data reveals the company’s financial health score is rated as WEAK, with concerning metrics including negative EBITDA of -$7.85 million and a current ratio of 0.06.
The panel’s decision follows a hearing on June 17, 2025, during which Safe & Green Holdings presented a plan to regain compliance. The plan includes implementing a reverse stock split and restructuring certain previously issued warrants.
Additionally, the company is required to publicly disclose by July 18, 2025, that it has restructured the terms of its April 2025 offering to eliminate the Class B warrants and provide Nasdaq with confirmation that no shares underlying the Class B warrants were issued.
Safe & Green Holdings stated its intention to meet the panel’s conditions within the required timeframes. The company’s common stock continues to trade on the Nasdaq Capital Market under the symbol SGBX.
All information is based on a statement released in a recent SEC filing.
In other recent news, Safe & Green Holdings Corp. has been awarded approximately $1.157 million in legal fees following a court case 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 move that includes taking over active projects valued at $6.8 million. Furthermore, Safe & Green Holdings has expanded its oil holdings by acquiring 1,600 acres of oil wells and leases from Sherman Oil Company, with plans to increase production using proprietary technology. In addition, the company has secured a new contract with Three Pines Leasing to provide modular units anticipated for lease to a U.S. government agency. Recently, Safe & Green Holdings appointed Samarth Verma to its Board of Directors, bringing his expertise in technology and corporate development. These developments reflect the company’s strategic efforts to enhance its modular construction solutions and diversify its operations. The acquisition of Giant Containers and the expansion into the oil sector are expected to bolster Safe & Green’s project pipeline and shareholder value. The company’s recent contract and board appointment further demonstrate its commitment to growth and innovation.
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