SCHEDULE: Investment Group Discloses 9.9% Stake in Safe & Green Holdings

A group of investors, including JAK Industrial Ventures I LLC and ATW Master Fund V LP, has disclosed a 9.9% beneficial ownership stake in Safe & Green Holdings Corp.

Summary

• JAK Industrial Ventures I LLC, ATW Master Fund V LP, ATW Partners Opportunities Management, LLC, Kerry Propper, and Antonio Ruiz-Gimenez are the reporting persons.
• The reporting persons beneficially own 631,359 shares of Safe & Green Holdings Corp. Common Stock.
• This ownership represents 9.9% of the class of securities.
• The beneficial ownership is derived from preferred shares issued by Safe & Green Holdings Corp. that are convertible into common stock within 60 days.
• A 'blocker' provision prevents the conversion of preferred shares if it would result in the holding company and its affiliates beneficially owning in excess of 9.99% of the outstanding shares.
• All reporting persons are deemed to have shared voting and dispositive power over the 631,359 shares.
• The percentage of class calculation is based on 5,688,555 shares outstanding as of November 12, 2025, as stated in the Issuer's Form 10-Q.

Sentiment

Score: 7

Explanation: The disclosure of a significant 9.9% stake by an investment group, even with a blocker, generally indicates a positive view from the investor regarding the company's value or potential, without suggesting an immediate hostile takeover.

Positives

• A significant investment group has taken a substantial 9.9% stake, potentially indicating confidence in Safe & Green Holdings Corp.'s future prospects.
• The investment is structured with a blocker, suggesting a strategic, long-term interest rather than an immediate attempt to gain control.

Risks

• The filing itself does not detail specific risks related to Safe & Green Holdings Corp.'s operations or financial health. It primarily discloses beneficial ownership.

Future Outlook

The filing does not provide specific forward-looking statements or guidance from the company or the reporting persons regarding the company's future operations or performance.

Management Comments

• The reporting persons certified that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing indicates a significant institutional investment in Safe & Green Holdings Corp. Such a substantial stake by an investment group can signal perceived value or strategic interest within the broader market for companies in the issuer's sector, though the specific business activities of Safe & Green Holdings Corp. are not detailed in this filing.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional investor taking a nearly 10% stake could be viewed positively, potentially signaling confidence in the company's prospects.
• Company Management: The presence of a large investor, even with a passive certification, could lead to increased scrutiny or engagement regarding strategic direction, though the blocker limits immediate control influence.

Next Steps

• The filing does not explicitly mention future actions or milestones for the company or the reporting persons, beyond the potential conversion of preferred shares into common stock subject to the blocker.

Key Dates

Recommendation

The filing reveals a significant passive investment by a group of entities and individuals, indicating a belief in the company's value without an immediate intent to influence control. While a large institutional stake can be a positive signal, the filing itself does not provide new operational or financial data to warrant a 'buy' or 'sell' recommendation. Investors should 'hold' and monitor future developments, particularly any further disclosures from this group or changes in the company's fundamentals.

Keywords

Safe & Green Holdings Corp., SGHC, Schedule 13G, Beneficial Ownership, Investment, Stake, Common Stock, ATW Master Fund V LP, JAK Industrial Ventures I LLC, Kerry Propper, Antonio Ruiz-Gimenez