Society for safe and environmentally friendly development SGD Shares are trading higher on Wednesday after the company announced it had secured an investment of up to $10 million Arena investors.
The details:
Safe and Green Devco stated that the initial funding amount is $1.38 million, with access to further tranches up to a total of $10.27 million under certain conditions. SG Devco has also entered into an equity credit facility purchase agreement with Arena Business Solutions, under which the company has the right, but not the obligation, to sell the investor shares worth potentially up to $50 million under certain conditions.
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Safe and Green sees one of the main benefits of this investment as being that it will have access to Arena’s real estate capabilities as well as Arena’s extensive network and know-how.
“This investment is a significant achievement for SG Devco. This strategic commitment demonstrates that Arena supports our vision and has confidence in the future potential of SG Devco’s real estate projects. We are convinced that Arena’s support will not only drive our expansion but also contribute to the long-term success of our real estate projects,” said David Villarreal, CEO of Safe and Green Devco.
More than 41 million Safe and Green shares traded during the session, compared to a float of less than 10 million shares, according to data from Benzinga Pro.
How to buy SGD shares:
In addition to acquiring a stock—or a portion of a stock—through a brokerage platform, you can also purchase an exchange-traded fund (ETF) that holds the stock itself, or by pursuing a strategy in your 401(k) plan that aims to acquire shares of a mutual fund or other instrument.
In the case of Safe & Green Development, for example, it is the real estate sector. An ETF will likely hold shares of many liquid and large companies that track this sector, allowing an investor to participate in the trends in this segment.
SGD Price Promotion: According to Benzinga Pro, Safe and Green shares are up 41.6% at 33 cents at the time of publication on Wednesday.
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Image: Megan Rexazin Conde from Pixabay
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