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Safe & Green Holdings To Acquire 100% Of Outstanding Securities Of New Asia Holdings

Benzinga·02/03/2025 13:31:53
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Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green Holdings" or the "Company"), a leading developer, designer, and fabricator of modular structures, today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with New Asia Holdings, Inc. ("NAHD"), which owns Olenox Corp. ("Olenox") and Machfu.com ("Machfu"), which are both innovative leaders in the energy and industrial IoT sectors.

Under the terms of the agreement, Safe & Green will acquire 100% of the outstanding securities of NAHD in exchange for the issuance of non-voting convertible preferred shares of the Company. This transaction marks a significant step forward in Safe & Green's commitment to expanding its capabilities in sustainable energy and smart industrial automation.