SHF Holdings enters forbearance with PCCU, deferring $56.9M payment obligations for six months

SHF Holdings, Inc.

Forbearance Agreement with Partner Colorado Credit Union defers all payments under Unit Purchase Agreement for six months while parties renegotiate terms.
Original payment schedule: $21.9M due Dec 15, 2022 plus $35.0M in six quarterly installments of $6.4M.
Luminous Capital escrowed 1.2M shares of SHF common stock as security for deferred cash consideration.
CEO Sundie Seefried says deferral provides flexibility to execute growth strategy.
PCCU CEO Doug Fagan cites 'stagnant market' pressuring capital raising as rationale for support.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SHF Holdings, Inc. entered into Forbearance Agreement with Partner Colorado Credit Union valued at Deferral of approximately $56.9 million in cash proceeds payment obligation for six months, includin (effective 2022-10-26).

Action: entry
Counterparty: Partner Colorado Credit Union
Value: Deferral of approximately $56.9 million in cash proceeds payment obligation for six months, includin
Effective: 2022-10-26

Exact text from the filing

On October 26, 2022, SHF Holdings, Inc., a Delaware corporation (the “ Parent ” or “ SHF ”), entered into a Forbearance Agreement (the “Forbearance Agreement”) with Partner Colorado Credit Union (“PCCU”), a Colorado credit union, and Luminous Capital USA Inc. (“Luminous”).

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SHF Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-22-030111

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