Safe & Green Development Corp. $(SGD)$ has announced a private placement, securing approximately $9.0 million in gross proceeds through a PIPE (private investment in public equity) financing. The company is selling a total of 360,000 shares of its Series B Non-Voting Convertible Preferred Stock, which can be converted at $1.36 per share into 6,617,647 shares of common stock. In addition, common stock warrants to purchase up to 6,617,647 shares at an exercise price of $1.36 per share are being issued. Each unit, consisting of one share of Preferred Stock and an accompanying warrant, is priced at $25.00 in accordance with Nasdaq's minimum price rules. The warrants will become exercisable upon shareholder approval and will expire two and a half years after such approval. Dawson James served as the sole placement agent for the transaction.