10:02 AM EDT, 08/12/2024 (MT Newswires) -- Safe & Green Holdings ( SGBX ) said Monday that the potential refinancing of its Waldron facility is expected to raise additional working capital of over $1 million and allow the company to pay off debt, citing a preliminary term sheet from an unnamed lender.

The company also said it expects to get the Employee Retention Tax Credit payment within 2025, which would offer a further $1.4 million of non-dilutive working capital.

The potential refinancing of the Waldron site is being pursued instead of the previously planned sale-leaseback deal, Safe & Green ( SGBX ) said.

The company's shares were 2% up in recent trading.

Price: 1.02, Change: +0.02, Percent Change: +2.00