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Posted: December 19, 2017
2017 Year in Review: Paul Galvin, SG Blocks, Inc.
Name & Title: Paul Galvin
Company Name: SG Blocks, Inc.
Address: 195 Montague Street, 14th Floor, Brooklyn Heights, New York, NY 11201
What was your most notable project, deal, transaction or professional achievement in 2017?
In second quarter 2017, we commenced fabrication of a new 23,715 square-foot three-story community Performing Arts and Enrichment Center in downtown Los Angeles. SGBX was engaged to design, build and deliver the school building. Our product meets and exceeds all standard California building code requirements. We expect the fabrication to be complete in December 2017 and the delivery and installation will be completed in the first quarter of 2018.
What was the best decision you made in 2017 and why?
The best decision that I made was to file for an initial public offering. We successfully closed 1,725,000 shares of common stock at a price of $5.00 per share. This resulted in SG Blocks being listed on the NASDAQ Capital Market on June 22, 2017 under the ticker symbol “SGBX.” This offering validated investor acceptance of our company as the market leader in container-based construction and has resulted in substantial interest and new business for our products.
Who or what contributed to your success in 2017 and why?
Mahesh Shetty, Chief Financial Officer of SG Blocks, contributed most to my success. We have been working together for two years and he helped me with the rigorous, highly-critical initial public offering process. This took countless hours of his dedication as well as lengthy travels and I appreciate his support throughout the process. He continues to provide valuable guidance to SG Blocks as we expand.
What trends will impact your business in 2018?
I believe that the increased focus on environmentalism and sustainability will greatly benefit SG Blocks. As companies look for greener, more eco-friendly solutions, they will find our container-based process of development to be highly effective and economical. I also think that the realization that the construction industry has become stagnant, filled with inefficient models will have companies look for a disruptor to help them accelerate construction timelines, with an extremely durable product.
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