secwatch.observer — SEC 8-K summary
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Issuer:     SHF Holdings, Inc. (SHFS)
CIK:        0001854963
Form:       8-K
Filed at:   2022-10-31T23:59:59+00:00
Accession:  0001493152-22-030016
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Safe Harbor (SHFS) acquires Abaca for $30M in cash and stock
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- Total consideration $30M: $9M cash (three $3M installments over 2 years) and $21M in common stock.
- Acquisition adds over 300 accounts and expands Safe Harbor's operations to more than 30 states.
- Abaca CEO Dan Roda becomes EVP & COO; co-founder Brian Bauer becomes CRO of Safe Harbor.
- Transaction expected to close Q4 2022, subject to regulatory approvals and customary conditions.
- Abaca has processed over $3B in gross transactions; Safe Harbor has onboarded over $14B in deposits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854963/000149315222030016/0001493152-22-030016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854963/000149315222030016/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-030016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer