Why Is Safe & Green Development (SGD) Stock Down 5% Today?


  • Safe & Green Development (SGD) stock is down on Monday alongside news of a Form D filing.
  • This covers the sale of securities to Maxim Group LLC.
  • The total amount of this sale is $1.2 million.
SGD Stock - Why Is Safe & Green Development (SGD) Stock Down 5% Today?

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Safe & Green Development (NASDAQ:SGD) stock is down on Monday after the company filed a Form D with the Securities and Exchange Commission (SEC).

This filing is for a Notice of Exempt Offering of Securities. The first sale for this was in late April. This has the company selling $1.2 million in securities to Maxim Group LLC. Of this, $350,000 of securities have already been sold with $850,000 remaining.

Safe & Green Development also includes a list of the securities being sold as part of this offering. They include equity, debt, warrants, common stock, convertible debentures as well as warrant and shares underlying debentures.

Other details in the Form D filing with the SEC include Safe & Green Development not expecting this offering to last more than one year. The company also notes that the offering is tied to several executives and directors who may see the funds used as compensation.

SGD Stock Movement Today

Even with today’s news, there’s not much in the way of movement for SGD stock. Only about 322,000 shares of the company’s stock have changed hands as of this writing. That’s well below its daily average trading volume of about 4.7 million shares.

SGD stock is also down 4.5% as of Monday morning. That follows a steeper drop earlier in pre-market trading.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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