Northern Lights SPAC up on deal to take cannabis-focused lender public

SHF Holdings

14/02/2022 15:58

** Blank-check co Northern Lights Acquisition Corp's
 NLIT.O  shares up as much as 0.2% at $10.11
    ** Co says will merge with Safe Harbor Financial (SHF), a
financial services provider for the U.S. cannabis industry
 urn:newsml:reuters.com:*:nPn5VH4p4a
    ** Deal, which will take SHF public, will value merged
entity at $327 mln
    ** NLIT says transaction includes a private investment of
$60 mln
    ** NLIT, a special purpose acquisition co (SPAC), raised
$115 mln in its IPO in June
    ** Founded in 2015, SHF has a stated goal of helping
cannabis operators overcome their reliance on "expensive,
non-traditional forms of capital"
    ** Co processed $4 bln worth of transactions in 2021, and is
betting on a jump in demand as legislative reform with respect
to cannabis unfolds in the United States

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))