SHF Holdings, Inc. (SHFS): debt financing — SHF Holdings settles $2.17M EF Hutton note for $550K; Series A preferred conversions update

SHF Holdings, Inc.

Resolved $2,166,250 promissory note with EF Hutton for $550,000 payment on March 10, 2023; note fully satisfied.
As of March 13, 2023, 9,554 shares of Series A Convertible Preferred converted into Class A common stock.
Resulting in 29,921,551 Class A common shares and 10,896 Series A Preferred shares outstanding.
No other material events reported.

item 2.04 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SHF Holdings, Inc. reported a default on loan of $2,166,250 with EF Hutton, division of Benchmark Investments, LLC.

Instrument: loan
Principal: $2,166,250
Counterparty: EF Hutton, division of Benchmark Investments, LLC
Event: default

Exact text from the filing

As previously disclosed in a Current Report on Form 8-K filed with the SEC by SHF Holdings, Inc. (“SHF” or the “Company”) on November 8, 2022, EF Hutton, division of Benchmark Investments, LLC (“EF Hutton”), notified the Company on November 2, 2022 that it was in default on a promissory note in the total amount of $2,166,250 executed on September 28, 2022 (the “Note”). On March 10, 2023, SHF and EF Hutton agreed to fully resolve the balance due, as well as all obligations set forth in the Note, for the total sum of $550,000 (the “Resolution Payment”). SHF made the Resolution Payment on March 10, 2023.

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SHF Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-007532

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