SG Blocks (SBGX) IPO Opens Lower, Trades Back to Flat

Today's IPO for SG Blocks, Inc. (NASDAQ: SGBX) opened for trading at $4.75 after pricing its initial public offering of 1,500,000 shares of its common stock at a public offering price of $5.00 per share. All of the shares of common stock are being offered by SG Blocks. The shares are expected to begin trading on the NASDAQ Capital Market on June 22, 2017 under the ticker symbol "SGBX". In addition, SG Blocks has granted the underwriters a 45-day option to purchase from SG Blocks up to an additional 225,000 shares of common stock at the initial public offering price, less the underwriting discount.

The gross proceeds to SG Blocks from this offering are expected to be $7,500,000, prior to deducting underwriting discounts, commissions and other estimated offering expenses.

SG Blocks plans to use the net proceeds from the offering for working capital and other general corporate purposes and to repay the remaining portion of the Company's outstanding debt.

The offering is expected to close on or about June 27, 2017, subject to customary closing conditions.

Joseph Gunnar & Co., LLC is acting as sole book-running manager for the offering.

SG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value.

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