What's Going On With Safe & Green Development Stock (SGD)?

Safe & Green Development Corp SGD shares are trading lower by 27% to $3.09 Monday morning, pulling back following recent strength, after the company on Thursday said it does not intend to conduct the offering of the shares of common stock contemplated by the Registration Statement. The stock was halted numerous times during Thursday's and Friday's trading sessions.

What Happened?

Safe & Green Development on Thursday officially asked the SEC for permission to retract its Registration Statement, along with all related changes and attachments.

This action stems from the company's decision not to proceed with the previously planned offering of common stock due to altered circumstances since the filing of the Registration Statement.

Importantly, no shares of the company's common stock have been or will be issued or sold under this Registration Statement.

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According to data from Benzinga Pro, SGD has a 52-week high of $8.42 and a 52-week low of $0.38.