Safe & Green (SGBX) Regains Nasdaq Compliance

Safe & Green Holdings Corp. (NASDAQ: SGBX) (“Safe & Green Holdings” or the “Company”), a leading developer, designer, and fabricator of modular structures for residential, commercial, and point-of-care medicine, today announced that the Company received notice from Nasdaq on July 20, 2023, indicating that it has regained compliance with the minimum bid price requirement under Nasdaq Rules 5550(a)(2).

Paul Galvin, Chairman and CEO of Safe & Green stated, “We are pleased to have regained compliance with the continued listing requirements of Nasdaq. Maintaining our Nasdaq listing is of the utmost importance to the Company given the credibility and visibility that it provides. The Company’s principal objective is to enhance value for our shareholders, a commitment underlined by our solid financial standing and the premium assets within our portfolio, facilitating the identification of creative opportunities for non-dilutive financing. Furthermore, the planned spin-off for Safe & Green Development Corp (“SG DevCo”), to become a standalone company listed on Nasdaq, is expected to be completed in the coming weeks. The planned distribution of 30% of SG DevCo to our current shareholders exemplifies yet another method by which the Company returns value to its investors. As we look to the future, the prospects for Safe & Green have never been brighter and we are excited by what lies ahead."

“I would like to extend my deep gratitude to each and every member of the Safe & Green team for their tireless work and immeasurable dedication. These efforts have contributed to our strong performance, culminating in us regaining compliance," stated Tricia Kaelin, Chief Financial Officer of Safe & Green. “As we continue these collective efforts and execute on our business strategy, we look forward to driving Safe & Green to new heights.”

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