Safe & Green Holdings Corp. Signs Letter of Intent to Acquire Rock Springs Energy Group
Safe & Green Holdings (NASDAQ:SGBX) has signed a non-binding Letter of Intent to acquire Rock Springs Energy Group LLC for an estimated $35 million. The acquisition target includes a refinery and associated assets in Rock Springs, Wyoming.
The transaction aligns with SGBX's strategy to build an integrated oil and gas company encompassing exploration, production, refining, and energy services. The deal structure includes a 60-day due diligence period, followed by a definitive purchase agreement, with closing expected within 30 days after the agreement execution.
The acquisition will be financed through a combination of debt and equity, subject to regulatory approvals and closing conditions. The LOI includes an exclusivity period preventing the seller from negotiating with other parties.
Safe & Green Holdings (NASDAQ:SGBX) ha firmato una Lettera di Intenti non vincolante per acquisire Rock Springs Energy Group LLC per un importo stimato di 35 milioni di dollari. L'obiettivo dell'acquisizione comprende una raffineria e i relativi asset a Rock Springs, Wyoming.
La transazione 猫 in linea con la strategia di SGBX di costruire un'azienda integrata nel settore petrolifero e del gas, che includa esplorazione, produzione, raffinazione e servizi energetici. La struttura dell'accordo prevede un periodo di due diligence di 60 giorni, seguito da un contratto definitivo di acquisto, con la chiusura prevista entro 30 giorni dall'esecuzione dell'accordo.
L'acquisizione sar脿 finanziata tramite una combinazione di debito e capitale proprio, soggetta ad approvazioni normative e condizioni di chiusura. La Lettera di Intenti include un periodo di esclusiva che impedisce al venditore di negoziare con altre parti.
Safe & Green Holdings (NASDAQ:SGBX) ha firmado una Carta de Intenci贸n no vinculante para adquirir Rock Springs Energy Group LLC por un monto estimado de 35 millones de d贸lares. El objetivo de la adquisici贸n incluye una refiner铆a y activos asociados en Rock Springs, Wyoming.
La transacci贸n se alinea con la estrategia de SGBX de construir una empresa integrada de petr贸leo y gas que abarque exploraci贸n, producci贸n, refinaci贸n y servicios energ茅ticos. La estructura del acuerdo incluye un per铆odo de diligencia debida de 60 d铆as, seguido por un contrato definitivo de compra, con cierre esperado dentro de los 30 d铆as posteriores a la ejecuci贸n del acuerdo.
La adquisici贸n ser谩 financiada mediante una combinaci贸n de deuda y capital, sujeta a aprobaciones regulatorias y condiciones de cierre. La Carta de Intenci贸n incluye un per铆odo de exclusividad que impide al vendedor negociar con otras partes.
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Safe & Green Holdings (NASDAQ:SGBX) a sign茅 une lettre d'intention non contraignante pour acqu茅rir Rock Springs Energy Group LLC pour un montant estim茅 脿 35 millions de dollars. La cible d'acquisition comprend une raffinerie et des actifs associ茅s 脿 Rock Springs, Wyoming.
Cette transaction s'inscrit dans la strat茅gie de SGBX visant 脿 construire une entreprise int茅gr茅e de p茅trole et de gaz englobant l'exploration, la production, le raffinage et les services 茅nerg茅tiques. La structure de l'accord pr茅voit une p茅riode de diligence raisonnable de 60 jours, suivie d'un accord d'achat d茅finitif, avec une cl么ture pr茅vue dans les 30 jours suivant la signature de l'accord.
L'acquisition sera financ茅e par une combinaison de dette et de fonds propres, sous r茅serve des approbations r茅glementaires et des conditions de cl么ture. La lettre d'intention inclut une p茅riode d'exclusivit茅 emp锚chant le vendeur de n茅gocier avec d'autres parties.
Safe & Green Holdings (NASDAQ:SGBX) hat eine unverbindliche Absichtserkl盲rung zur 脺bernahme von Rock Springs Energy Group LLC im gesch盲tzten Wert von 35 Millionen US-Dollar unterzeichnet. Das 脺bernahmeziel umfasst eine Raffinerie und dazugeh枚rige Verm枚genswerte in Rock Springs, Wyoming.
Die Transaktion entspricht der Strategie von SGBX, ein integriertes 脰l- und Gasunternehmen aufzubauen, das Exploration, Produktion, Raffination und Energiedienstleistungen umfasst. Die Struktur des Deals sieht eine 60-t盲gige Due-Diligence-Phase vor, gefolgt von einem endg眉ltigen Kaufvertrag, wobei der Abschluss innerhalb von 30 Tagen nach Vertragsunterzeichnung erwartet wird.
Die Finanzierung der 脺bernahme erfolgt durch eine Kombination aus Fremd- und Eigenkapital, vorbehaltlich beh枚rdlicher Genehmigungen und Abschlussbedingungen. Die Absichtserkl盲rung enth盲lt eine Exklusivit盲tsperiode, die den Verk盲ufer daran hindert, mit anderen Parteien zu verhandeln.
- Strategic expansion into integrated oil and gas operations
- Acquisition price of $35 million includes valuable assets, permits, and IP
- Structured timeline with 60-day exclusivity period protects buyer interests
- Non-binding LOI subject to multiple conditions and approvals
- Significant financing needed through debt and equity
- Potential integration challenges merging traditional energy with sustainable infrastructure focus
Insights
SGBX plans $35M refinery acquisition marking strategic pivot into oil & gas alongside sustainable infrastructure business.
Safe & Green Holdings has signed a non-binding Letter of Intent (LOI) to acquire Rock Springs Energy Group's refinery in Wyoming for approximately
The transaction structure follows standard M&A protocols with a 60-day due diligence period, exclusivity clause, and a phased timeline targeting closing within 120 days of LOI execution. The purchase will be financed through a combination of debt and equity, though specific financing ratios weren't disclosed.
What's particularly notable is the apparent strategic contradiction. SGBX is simultaneously pursuing sustainable infrastructure development while expanding into conventional fossil fuel operations. The company frames this as supporting "domestic energy independence" alongside sustainability goals - a challenging balancing act that investors should monitor closely.
The
This acquisition signals SGBX's intention to vertically integrate across the entire oil and gas value chain - from exploration and production through refining - suggesting a comprehensive strategic transformation rather than an incremental expansion.
MIAMI, FL / / August 5, 2025 / Safe & Green Holdings Corp. (NASDAQ:SGBX) ("Safe & Green" or the "Company"), a leading developer of sustainable solutions and modular infrastructure, today announced that it has entered into a non-binding Letter of Intent to acquire Rock Springs Energy Group LLC, located in Rock Springs, Wyoming.
The transaction aligns with Safe & Green's strategic initiative to build a fully integrated oil and gas company that includes exploration, production, refining, and related energy services, alongside its existing focus on sustainable infrastructure development.
Under the terms of the LOI, Safe & Green intends to purchase the refinery and its associated assets, permits, intellectual property, and related documentation. The proposed transaction is subject to a customary due diligence period of 60 days, finalization of a definitive purchase agreement, regulatory approvals, and other closing conditions.
The Company estimates the purchase price for the refinery to be approximately
"This LOI reflects our strategic intent to explore opportunities that align with our vision for sustainable infrastructure and domestic energy independence," said Mike Mclaren, CEO of Safe & Green Holdings Corp. "We look forward to evaluating the full potential of the Rock Springs facility and engaging with ownership to determine a path forward."
As part of the LOI, the Seller has agreed to a 60-day exclusivity period during which it will not solicit or negotiate with other parties. Both parties have also agreed to maintain confidentiality regarding the terms of the LOI and all due diligence communications.
The LOI is non-binding and subject to the execution of a definitive purchase agreement, anticipated to follow the due diligence phase. The expected transaction timeline includes:
LOI Execution: July 28, 2025
Due Diligence Completion: 60 days post-execution
Definitive Agreement: within 30 days of due diligence completion
Closing: within 30 days after execution of the definitive agreement
The proposed acquisition would mark a significant step in Safe & Green's broader growth strategy, pending successful due diligence and regulatory review.
About Rock Springs Energy Group
Rock Springs Energy Group is a Wyoming-based energy company developing a state-of-the-art modular crude oil distillation and storage facility. Strategically located near the Uinta Basin and key transportation infrastructure. The company specializes in converting low-cost feedstocks into high-value specialty fuels and chemical products such as paraffin, naphtha, and mineral spirits. With a focus on rapid deployment, environmental compliance, and off-take secured operations, Rock Springs Energy Group is positioned to capture market opportunities across the Rocky Mountain region.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp. (NASDAQ:SGBX) is a purpose-driven company focused on creating scalable infrastructure solutions across energy and construction sectors. The Company is actively building a fully integrated oil and gas platform encompassing exploration, production, refining, and related energy services, while continuing to expand its core business in sustainable building technologies and modular manufacturing. Safe & Green is committed to delivering flexible, fast-to-market solutions that support both traditional and next-generation infrastructure needs.
For more information, visit:
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding the execution of a non-binding letter of intent with Rock Springs Energy Group, LLC. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to successfully complete its due diligence review of Rock Springs Energy Group, the Company's ability to successfully negotiate and execute definitive documents for the acquisition of Rock Springs Energy Group, the Company's ability to maintain compliance with NASDAQ listing requirements, and the other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
For investor and media inquiries, please contact:
[email protected]
SOURCE: Safe & Green Holdings Corp
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FAQ
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