SHF Holdings Reports Financial Event, Board Changes
Ticker: SHFSW · Form: 8-K · Filed: Dec 19, 2024 · CIK: 1854963
| Field | Detail |
|---|---|
| Company | Shf Holdings, Inc. (SHFSW) |
| Form Type | 8-K |
| Filed Date | Dec 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $3,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-obligation, management-change, corporate-governance
TL;DR
SHF Holdings triggered financial obligation event & changed board/exec comp. Watch closely.
AI Summary
On December 13, 2024, SHF Holdings, Inc. reported a triggering event related to financial obligations and announced changes in its board and officer compensation. The company, formerly known as Northern Lights Acquisition Corp., is incorporated in Delaware and operates in the finance services sector.
Why It Matters
This filing indicates potential acceleration or increase in financial obligations and signals changes in corporate leadership and compensation, which could impact the company's financial health and strategic direction.
Risk Assessment
Risk Level: medium — The triggering of financial obligations and changes in executive compensation suggest potential financial distress or significant strategic shifts that warrant careful monitoring.
Key Players & Entities
- SHF Holdings, Inc. (company) — Registrant
- Northern Lights Acquisition Corp. (company) — Former company name
- December 13, 2024 (date) — Earliest event reported date
- Delaware (location) — State of incorporation
FAQ
What specific financial obligation was triggered or accelerated for SHF Holdings, Inc. on December 13, 2024?
The filing indicates a triggering event that accelerates or increases a direct financial obligation or an obligation under an off-balance sheet arrangement, but the specific details of the obligation are not provided in this excerpt.
What were the specific changes regarding the departure of directors or certain officers at SHF Holdings, Inc.?
The filing lists 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers' as an item information, but the specific details of these changes are not included in the provided text.
What is the business address and phone number for SHF Holdings, Inc.?
The business address is 1526 COLE BLVD., SUITE 250, GOLDEN, CO 80401, and the business phone number is (303) 431-3435.
When did SHF Holdings, Inc. change its name from Northern Lights Acquisition Corp.?
The date of the name change from Northern Lights Acquisition Corp. to SHF Holdings, Inc. was April 2, 2021.
What is the SIC code and fiscal year end for SHF Holdings, Inc.?
The Standard Industrial Classification (SIC) code is 6199 (Finance Services), and the fiscal year ends on December 31.
Filing Stats: 729 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-12-19 17:30:04
Key Financial Figures
- $0.0001 — hich Registered Class A Common Stock, $0.0001 par value per share SHFS The Nasdaq
- $11.50 — A Common Stock at an exercise price of $11.50 per share SHFSW The Nasdaq Stock Ma
- $3,000,000 — with concerns surrounding a payment of $3,000,000 (the "Merger Payment") to the former st
Filing Documents
- form8-k.htm (8-K) — 44KB
- 0001493152-24-050828.txt ( ) — 267KB
- shfs-20241213.xsd (EX-101.SCH) — 4KB
- shfs-20241213_def.xml (EX-101.DEF) — 30KB
- shfs-20241213_lab.xml (EX-101.LAB) — 36KB
- shfs-20241213_pre.xml (EX-101.PRE) — 27KB
- form8-k_htm.xml (XML) — 6KB
01. Other Events
Item 8.01. Other Events. As reported on its Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on October 14, 2024, the Company caused a declaratory judgment complaint (the "Company Complaint") to be filed in the District Court for the City and County of Denver, Colorado, captioned SHF Holdings, Inc. v. Daniel Roda, Gregory W. Ellis, and James R. Carroll, Case No. 2024CV33187 (Denver Cty. Dist. Ct.). The Company caused the Company Complaint to be filed in connection with concerns surrounding a payment of $3,000,000 (the "Merger Payment") to the former stockholders of Rockview Digital Solutions, a Delaware corporation, d/b/a Abaca ("Abaca"), to be made by the Company on October 5, 2024, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement") and two subsequent amendments to the Merger Agreement (collectively, the "Amendments"), by and among the Company, SHF Merger Sub I, a Delaware corporation and a direct wholly-owned subsidiary of Company, SHF Merger Sub II, LLC, a Delaware limited liability company and a direct wholly-owned subsidiary of the Company, Abaca, and Daniel Roda, solely in such individual's capacity as the representative of Abaca's stockholders (the "Stockholders' Representative"). On December 13, 2024, Daniel Roda, Gregory W. Ellis, and James R. Carroll (collectively, the "Defendants") caused an answer and counterclaim to be filed in response to the Company Complaint. The Defendants' answer and counterclaim, among other things, asserts several breaches of contract under the Merger Agreement, as amended, relating to a delay in payment of the Merger Payment, in addition to the validity of Stockholder Representatives' execution of the Amendments. The Defendants' counterclaim also asserts a third-party claim against the Chairman of the Company's board of directors, Fred Niehaus.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SHF HOLDINGS, INC. Date: December 19, 2024 By: /s/ Sundie Seefried Chief Executive Officer