In mid-August, Equity Animal, which aims to disrupt the investor relations field, came to Benzinga with news that it was hired by modular structure maker SG Blocks Inc (NASDAQ:SGBX) to help tell its story to millions of retail, institutional and accredited investors.
On Thursday, SG Blocks released updates for its subsidiary focused on real estate development, SGB Development Corporation (SGB DevCo), as well as the expansion of manufacturing footprints, Equity Animal shared with Benzinga.
SG Blocks recorded strong “real estate development performance” and expressed excitement about its future growth on the path to capitalize on a “record backlog of approximately $765 million with 4,000+ units to be built.”
The firm’s Chairman and CEO Paul Galvin, in an exclusive comment to Benzinga, said he is very excited to continue showcasing SG Blocks’ operations and DevCo’s growth to the markets.
“Our company transformed and grew significantly during COVID,” he explained.
“Today's update on our wholly owned DevCo only further highlights our enhanced financial position and the strategic decisions that we've been making at all levels of the company.”
What's More: Per Equity Animal, summing the assessed value of the DevCo-owned property, alone, the per-share value is $4.68. This is excluding the entire operations of SG Blocks, and the stock trades at $1.84, as of the session close on September 29.
Graphic provided by Equity Animal.
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