Safe & Green Holdings Corp. Reports 476% Year Over Year Increase in Construction Services Revenue for the Fourth Quarter of 2022
Retrieved on:
Wednesday, March 29, 2023
Building Systems, Other Construction & Property, Architecture, Commercial Building & Real Estate, Construction & Property, Partnership, Safe-In-Sound award, SG, COVID-19, Generally Accepted Accounting Principles (United States), Data collection, GAAP, Multimedia, Commencement Bay, COVID, Monticello, Pharmacy, The Twelve Months, Sale, Green, CLIA, International Brotherhood of Teamsters, EBITDA, Acquisition, Investment, Los Angeles International Airport, Growth, Depreciation, Transport, Adjustment, Sanitec, Three Months, Cryptocurrency, Real estate, Video game, Fine chemical, Pharmaceutical industry, Retail, Safe, Catskill Mountains
Existing shareholders are expected to receive 30% of the spin-out, while Safe and Green Holdings will retain the balance of the ownership.
Key Points:
- Existing shareholders are expected to receive 30% of the spin-out, while Safe and Green Holdings will retain the balance of the ownership.
- The planned spin out of SG DevCo does not include the Company’s Denison property, which will remain within Safe & Green Holdings.
- The construction services segment generated $4.2 million in revenue, a 476% increase, compared to the same period last year.
- Operating expenses for the fourth quarter of 2022 were $4.0 million, compared to $2.4 million for the 2021 fourth quarter.