NLIT - NLIT STOCK NEWS

Northern Lights Acquisition Corp. (NLIT) has announced a second amendment to its Unit Purchase Agreement concerning a business combination with Safe Harbor Financial. The amendment defers $50 million of the $70 million initial cash payment to the Seller, enhancing liquidity for post-closing activities. The business combination is projected to close by September 28, 2022, pending regulatory approval. Northern Lights also plans updates to its PIPE offering to coincide with the closure of the business combination.

Northern Lights Acquisition Corp. (Nasdaq: NLIT) has amended its unit purchase agreement for the business combination with Safe Harbor Financial. The transaction is now set to close by September 28, 2022, pending regulatory approval. The amendment defers $30 million of the $70 million initial cash payment to the seller, allowing Northern Lights to conserve cash for post-closing activities. Additionally, the definitive proxy statement was supplemented to clarify aspects of Safe Harbor's business following stockholder approval on June 28, 2022. This extension aims to facilitate the completion of the transaction.

Northern Lights Acquisition Corp. (Nasdaq: NLIT) announced an amendment to its unit purchase agreement with Safe Harbor Financial, extending the deadline for completing their business combination from June 30 to July 29, 2022. This extension allows more time to secure regulatory approval. Stockholders approved the business combination on June 28, 2022. Stockholders who submitted redemption requests can reverse them by contacting the transfer agent. Safe Harbor, a provider of banking solutions for the cannabis industry, has facilitated over $12 billion in transactions across 20 states.

Northern Lights Acquisition Corp. (Nasdaq: NLIT) has rescheduled its special meeting of stockholders to June 28, 2022, at 4:00 PM ET. The meeting aims to approve the business combination with Safe Harbor Financial. The record date remains May 19, 2022. A funding deposit of $1,150,000 has been made to extend the completion deadline of the business combination to September 28, 2022, although closing is still anticipated by June 30, 2022. Stockholders can use their previous proxy materials to vote, and assistance is available through the Company's proxy solicitor.

Northern Lights Acquisition Corp. (NASDAQ: NLIT) has rescheduled its Special Meeting for stockholders to June 27, 2022, at 4:00 pm ET. The meeting aims to approve the acquisition of SHF, LLC, d/b/a Safe Harbor Financial. Stockholders can use previously distributed proxy materials to vote. If approved, the business combination will close shortly after, with NLIT rebranding as SHF Holdings, Inc., and trading under the new symbols SHFS and SHFSW. The record date remains May 19, 2022, and voting instructions are unchanged.

Northern Lights Acquisition Corp. (NASDAQ: NLIT) has entered into a redemption backstop arrangement with Midtown East Management NL LLC for up to $50 million in connection with its planned business combination with Safe Harbor Financial. This agreement is intended to ensure that the maximum redemption threshold is met for the proposed merger. Additionally, a $60 million PIPE commitment from accredited investors was announced earlier. Safe Harbor is a provider of banking solutions to the cannabis industry, having processed over $12 billion in transactions across 20 states.

Northern Lights Acquisition Corp. (NASDAQ: NLIT) announced a Special Meeting on June 24, 2022, to approve its acquisition of Safe Harbor Financial. Stockholders of record as of May 19, 2022, can vote during this meeting, which will be held virtually. If approved, NLIT will rebrand as SHF Holdings, Inc., with new ticker symbols SHFS for common stock and SHFSW for warrants. Safe Harbor has processed over $12 billion in transactions in the cannabis industry, indicating strong market presence.

Safe Harbor Financial announced a $5 million senior secured loan to Solar Cannabis Co., marking the first loan extended outside Colorado. This loan is aimed at helping Solar Cannabis accelerate its growth. Safe Harbor, with a pipeline of $500 million in loans across nine states, aims to mitigate high costs of capital in the cannabis industry. The announcement follows Safe Harbor's business combination agreement with Northern Lights Acquisition Corp. (Nasdaq: NLIT) in February 2022. The loan terms were not disclosed, but Safe Harbor emphasizes compliance and competitive lending rates.

Safe Harbor Financial has appointed Paul Penney as Chief Investment Officer, effective immediately. With over 20 years of experience, Penney will oversee the lending strategy and investor relations for the cannabis-focused financial services provider. The company recently announced a business combination agreement with Northern Lights Acquisition Corp. (Nasdaq: NLIT), which values Safe Harbor at approximately $327 million. Under Penney's leadership, Safe Harbor aims to expand its lending relationships with cannabis Multi-State Operators and Single-State Operators.