Safe & Green Holdings Sets December 29 Annual Meeting to Finalize Energy Strategy Shift and Olenox Merger

Safe & Green Holdings Corp. (NASDAQ: SGBX) has scheduled its 2025 Annual Meeting of Stockholders for December 29, 2025, with a record date of November 21 for determining voting eligibility. The meeting represents a pivotal moment for the company as it completes its strategic transformation from modular construction to becoming an integrated energy enterprise. Stockholders will vote on approving the conversion of non-voting preferred shares held by former New Asia Holdings shareholders into common stock, finalizing the second phase of the Olenox–Safe & Green merger.

The company's formal shift toward energy operations centers on Olenox's established divisions in oil, gas services, and technologies. This strategic realignment comes as Olenox prepares to launch an aggressive drilling program beginning in the fourth quarter of 2025. The company has set ambitious production targets, aiming to reach 1,000 barrels of oil equivalent per day by the end of 2026. This expansion occurs against a backdrop of growing national focus on U.S. energy independence, driven by increasing demand from data centers, artificial intelligence infrastructure, and domestic industrial operations.

Beyond traditional energy operations, Safe & Green is expanding its digital capabilities through strategic partnerships. The company has partnered with Machfu to implement industrial Internet of Things systems and with OneQode for high-reliability communications infrastructure. These technological enhancements support the company's broader energy strategy while positioning it to capitalize on the digital transformation occurring across the energy sector. The company's comprehensive approach integrates traditional energy production with advanced digital infrastructure, creating a diversified energy platform.

The December 29 meeting will provide stockholders with the opportunity to approve the final steps in the company's strategic transformation. The conversion of preferred shares represents the culmination of the Olenox integration process, enabling former New Asia Holdings shareholders to fully participate in the combined company's future growth. This corporate restructuring aligns with Safe & Green's broader vision of becoming a significant player in the U.S. energy market, leveraging Olenox's operational expertise and the company's expanding digital capabilities to create value across multiple energy sectors.