Safe & Green Holdings Corp. to Acquire Rock Springs Energy Group

Safe & Green Holdings Corp. (NASDAQ:SGBX), a leader in sustainable solutions and modular infrastructure, announced its entry into a non-binding Letter of Intent to acquire Rock Springs Energy Group LLC in Wyoming. This strategic move aims to enhance Safe & Green's integrated oil and gas strategy, incorporating exploration, production, and energy services.

The acquisition involves purchasing the Rock Springs refinery and associated assets for approximately $35 million, subject to due diligence confirmation. Financing will combine debt and equity. The due diligence period is set for 60 days, with exclusivity granted to Safe & Green during this time.

The transaction timeline projects a definitive agreement within 30 days post due diligence, aiming for closure 30 days thereafter.