| Over a week ago | ||||
SG Blocks announced that… SG Blocks announced that it has completed its U.S. import registration for the import into the United States of the "GeneFinder COVID-19 Plus RealAmp Kit" produced by OSANG Healthcare Co., Ltd., a South Korea based global manufacturer and distributor of medical-grade diagnostic tests and equipment. The "GeneFinder COVID-19 Plus RealAmp Kit" test is a polymerase chain reaction SARS-CoV-2 test for COVID-19 available in the United States under the FDA's Emergency Use Authorization, the company notes. On May 5, 2020, the company announced the signing of a one-year, non-exclusive distributorship agreement with OHC for its "GeneFinder COVID-19 Plus RealAmp Kit" in the United States. | ||||
ThinkEquity is acting as… ThinkEquity is acting as sole book running manager for the offering. | ||||
SG Blocks and OSANG… SG Blocks and OSANG Healthcare Co., a South Korea based global manufacturer and distributor of medical-grade diagnostic tests and equipment, announced the signing of a one year, non-exclusive distributorship agreement for the United States, for OHC's "GeneFinder COVID-19 Plus RealAmp Kit" - a simple SARS-CoV-2 test for COVID-19, now available in the United States under the FDA's Emergency Use Authorization. SG Blocks will have sales, marketing and distribution rights to OHC's product in the United States and plans to leverage its customer base and relationships with federal government and state-level customers in particular who are only beginning to roll-out widespread SARS-CoV-2 testing centers. In connection with the entry into the distributorship agreement, subject to conditions the company granted an affiliate of OHC the right to elect to participate, at its sole and exclusive option, in up to 19.9% of any stock offering by the company during the next six months. | ||||
| Over a month ago | ||||
SG Blocks has signed an… SG Blocks has signed an agreement to provide architecture and engineering services for a 3,680 square foot restaurant and 24 cottages in 12,160 square foot buildings to be constructed of purpose built modular/container units that will be built on top of a poured in place concrete structure in South Florida. While the parties finalize the contractual terms for the construction of the Project, terms for architecture and engineering services have been agreed to, with plans scheduled to be delivered in June. The company expects to execute the construction contract within 30 days and anticipates construction of the project to commence in Q3. | ||||
Check out this morning's… | ||||
ThinkEquity acted as sole… ThinkEquity acted as sole book running manager for the offering. | |
ThinkEquity, a division… ThinkEquity, a division of Fordham Financial Management, Inc., is acting as representative of the underwriters in the offering. | |
SG Blocks and Transcend… SG Blocks and Transcend Onsite Care, a provider of on-site point of contact medical care, have executed a memorandum of understanding, or MOU, to provide joint products and services. SG Blocks is a provider of code compliant container based construction and can create solutions for the delivery of Transcend's array of medical technologies and professionals. Products that are expected to be implemented include modular primary care medical units, Covid-19 diagnostic testing units, quarantine living units, as well as drive through testing units at employer onsite clinics and community hospitals. The first project planned is two Transcend medical and testing units to be built by SG Blocks and operated by Transcend. The unit will be delivered to a major southern California employer for the initial purposes of providing onsite Covid-19 screening through diagnostic testing and medical care for staff who are required to work during the pandemic. |
| Over a quarter ago | ||||
SG Blocks announced that… SG Blocks announced that it received notice from Nasdaq indicating that the company has regained compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550 for continued listing on Nasdaq. Accordingly, the company has regained compliance with the bid price rule and the matter is now closed. | ||||
SG Blocks announced a… SG Blocks announced a reverse stock split of its shares of common stock at a ratio of 1-for-20. The reverse stock split will take effect as of 11:01 p.m. Shares of SG Blocks common stock will trade on a post-split basis on Nasdaq under the existing trading symbol at the market open on February 6. During the company's special stockholder meeting held January 15, stockholders approved the company's reverse stock split, and granted the board of directors the authority to implement and determine the exact split ratio, which was set by the board at 1-for-20. Following the reverse stock split, the new CUSIP number will be 78418A505, with the par value per share of common stock remaining at 1c. A proportionate adjustment will be made to the per-share exercise prices and number of shares issuable under all outstanding stock options and warrants. As previously reported, SG Blocks has until June 29 to regain compliance with the Nasdaq's minimum bid price requirement. To regain compliance, SG Block's common stock must have a minimum bid price per share of at least $1.00 for 10 consecutive business days. The reverse stock split is intended to increase the market price per share to help ensure a share price high enough to satisfy the $1.00 minimum bid price requirement by Nasdaq. However, there is no assurance that the reverse stock split will have the desired effect of sufficiently increasing the bid price of SG Block's common stock for the required period. When the reverse stock split becomes effective, every 20 shares of the company's issued and outstanding common stock will be combined into one share of common stock. Effecting the reverse stock split will reduce the number of issued and outstanding common stock from approximately 23.2M shares to approximately 1.16M shares. The reverse stock split will also subsequently adjust outstanding options issued under SG Block's equity incentive plan and outstanding warrants to purchase common stock. No fractional shares will be issued in connection with the reverse stock split. Stockholders of record will receive a cash payment in lieu of fractional shares to which they would otherwise be entitled. | ||||