Safe and Green Development Corporation completed the acquisition of Majestic World Holdings, LLC for $1.6 million.
Safe and Green Development Corporation (NasdaqCM:SGD) completed the acquisition of Majestic World Holdings, LLC for $1.6 million on February 7, 2024. The purchase price for the acquisition consists of an aggregate of $500,000 in cash to be paid over 5 quarters and 500,000 shares of Safe and Green Development Corporation restricted stock valued at $1.075 million, or $2.15 per share. 100 % of the Cash Consideration will be paid in five equal installments of $0.1 million each on the first day of each of the five quarterly periods following the Closing. Under the terms of the agreement, Matthew Barstow, MWH Chief executive Officer & President will become Senior Vice President of Innovation at Safe and Green Development Corporation.