Brief: Safe Harbor Financial Announces Definitive Agreement To Acquire Abaca

SHF Holdings

31/10/2022 12:34

Oct 31 (Reuters) - SHF Holdings Inc  SHFS.O :
    * SAFE HARBOR FINANCIAL ANNOUNCES DEFINITIVE AGREEMENT TO
ACQUIRE
ABACA
    * SHF HOLDINGS INC - PROPOSED DEAL FOR $30 MILLION
    * SHF HOLDINGS INC - UPON CLOSING, WILL INCREASE SAFE HARBOR
OPERATIONS TO MORE THAN 30 STATES
    * SHF HOLDINGS INC - TRANSACTION IS STRUCTURED TO PROVIDE
ABACA
SHAREHOLDERS WITH $3 MILLION CASH AT CLOSE AND $8.4 MILLION IN
COMMON STOCK
    * SHF HOLDINGS- AT 1-YEAR ANNIVERSARY, TO PAY EXTRA $3
MILLION IN
CASH,$12.6 MILLION IN SAFE HARBOR COMMON STOCK BASED ON 10-DAY
VWAP PRECEDING 1-YEAR ANNIVERSARY
    * SHF HOLDINGS INC - UPON 2-YEAR ANNIVERSARY, THERE WILL BE
A
FINAL CASH PAYMENT OF $3 MILLION IN CASH

Source text for Eikon:  ID:nPnN2pTda 
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