Item 1. Security and Issuer.
This statement relates to the shares of common stock, $0.01 par value per share (the “Common Stock”), of SG Blocks, Inc. a Delaware corporation (the “Issuer”). The address of the principal executive offices of the Issuer is 195 Montague St., Brooklyn, NY 11201.
Item 2. Identity and Background.
(a) This statement is filed by Bruce Grossman.
(b) The address of the principal office of Mr. Grossman is c/o Dillon Hill Capital LLC 200 Business Park Drive, Suite 306 Armonk, NY 10504.
(c) The principal business of Mr. Grossman is investing in securities. Mr. Grossman is the sole member of Dillon Hill Capital, LLC, a Delaware limited liability company. Mr. Grossman’s spouse is the co-trustee of a trust that is the sole member of Dillon Hill Investment Company, LLC, a Delaware limited liability company.
(d) Mr. Grossman has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) Mr. Grossman has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Item 3. Source or Amount of Funds or Other Consideration.
On June 30, 2016, the Issuer issued (i) 741,000 shares of Series A Convertible Preferred Stock, par value $1.00 (the “Preferred Stock”) to Dillon Hill Capital, LLC, which shares are convertible into 741,000 shares of Common Stock, and (ii) 370,500 shares of Preferred Stock to Dillon Hill Investment Company, LLC, which shares are convertible into 370,500 shares of Common Stock; each in consideration of the cancellation of an aggregate of $1,111,500 in loans to the Issuer pursuant to a plan of reorganization in connection with the Issuer’s emergence from bankruptcy. The pre-petition loans were financed by Dillon Hill Capital, LLC and Dillon Hill Investment Company, LLC with working capital.
The Issuer effected a 1 - for - 3 reverse stock split of its Common Stock and Preferred Stock on February 28, 2017.
On June 27, 2017, the Issuer completed a public offering of Common Stock. Prior to the offering, each share of the Issuer's Preferred Stock was converted into one share of Common Stock.