Safe Harbor Financial Successfully Modifies Debt Obligation with Partner Colorado Credit Union
Safe Harbor Financial (NASDAQ: SHFS) has successfully modified its debt agreement with Partner Colorado Credit Union (PCCU). The new terms include a two-year interest-only period for February and March 2025, which will unlock over $6 million in cash flow that would have been used for principal amortization. The Note will maintain its 4.25% interest rate and extends the due date to October 2030.
PCCU, one of Safe Harbor's largest shareholders, supports this modification to provide the company with enhanced financial flexibility for pursuing new opportunities. The agreement aims to strengthen Safe Harbor's position as a fintech leader in providing financial services to the regulated cannabis industry.
Safe Harbor Financial (NASDAQ: SHFS) ha modificato con successo il suo accordo di debito con Partner Colorado Credit Union (PCCU). I nuovi termini includono un periodo di soli interessi di due anni per febbraio e marzo 2025, che sbloccherà oltre 6 milioni di dollari in flusso di cassa che sarebbero stati utilizzati per l'ammortamento del capitale. La Nota manterrà il suo tasso d'interesse del 4,25% e prolungherà la scadenza a ottobre 2030.
PCCU, uno dei maggiori azionisti di Safe Harbor, sostiene questa modifica per fornire all'azienda una maggiore flessibilità finanziaria nel perseguire nuove opportunità. L'accordo mira a rafforzare la posizione di Safe Harbor come leader fintech nella fornitura di servizi finanziari all'industria della cannabis regolamentata.
Safe Harbor Financial (NASDAQ: SHFS) ha modificado con éxito su acuerdo de deuda con Partner Colorado Credit Union (PCCU). Los nuevos términos incluyen un período de solo intereses de dos años para febrero y marzo de 2025, lo que desbloqueará más de 6 millones de dólares en flujo de caja que se habrían utilizado para la amortización del principal. La Nota mantendrá su tasa de interés del 4.25% y extenderá la fecha de vencimiento hasta octubre de 2030.
PCCU, uno de los mayores accionistas de Safe Harbor, apoya esta modificación para proporcionar a la empresa una mayor flexibilidad financiera para perseguir nuevas oportunidades. El acuerdo tiene como objetivo fortalecer la posición de Safe Harbor como líder fintech en la provisión de servicios financieros a la industria del cannabis regulada.
세이프 하버 파이낸셜 (NASDAQ: SHFS)는 파트너 콜로라도 신용 조합 (PCCU)과의 채무 계약을 성공적으로 수정했습니다. 새로운 조건에는 2025년 2월과 3월에 대한 2년간의 이자만 지불하는 기간이 포함되어 있으며, 이는 원금 상환에 사용될 600만 달러 이상의 현금 흐름을 확보할 수 있게 합니다. 이 어음은 4.25%의 이자율을 유지하며 만기는 2030년 10월로 연장됩니다.
PCCU는 Safe Harbor의 주요 주주 중 하나로, 회사가 새로운 기회를 추구하는 데 있어 재정적 유연성을 높이기 위해 이 수정을 지지합니다. 이 계약은 규제된 대마초 산업에 금융 서비스를 제공하는 핀테크 리더로서 Safe Harbor의 위치를 강화하는 것을 목표로 합니다.
Safe Harbor Financial (NASDAQ: SHFS) a réussi à modifier son accord de dette avec le Partner Colorado Credit Union (PCCU). Les nouveaux termes incluent une période de seulement intérêts de deux ans pour février et mars 2025, ce qui débloquera plus de 6 millions de dollars de flux de trésorerie qui auraient été utilisés pour l'amortissement du principal. La Note conservera son taux d'intérêt de 4,25% et prolongera la date d'échéance jusqu'à octobre 2030.
PCCU, l'un des plus grands actionnaires de Safe Harbor, soutient cette modification pour offrir à l'entreprise une flexibilité financière accrue dans la recherche de nouvelles opportunités. L'accord vise à renforcer la position de Safe Harbor en tant que leader fintech dans la fourniture de services financiers à l'industrie du cannabis réglementée.
Safe Harbor Financial (NASDAQ: SHFS) hat erfolgreich seine Schuldenvereinbarung mit der Partner Colorado Credit Union (PCCU) geändert. Die neuen Bedingungen umfassen einen zwei Jahre dauernden Zinszahlungszeitraum für Februar und März 2025, der über 6 Millionen Dollar an Cashflow freisetzen wird, die sonst für die Tilgung des Hauptbetrags verwendet worden wären. Der Schein behält seinen 4,25% Zins bei und verlängert das Fälligkeitsdatum bis Oktober 2030.
PCCU, einer der größten Aktionäre von Safe Harbor, unterstützt diese Änderung, um dem Unternehmen eine verbesserte finanzielle Flexibilität bei der Verfolgung neuer Möglichkeiten zu bieten. Die Vereinbarung zielt darauf ab, die Position von Safe Harbor als Fintech-Leader bei der Bereitstellung von Finanzdienstleistungen für die regulierte Cannabisindustrie zu stärken.
- Unlocks $6M in cash flow over next 2 years
- Maintains favorable 4.25% interest rate
- Extends debt maturity to October 2030
- Receives two-year interest-only period
- Continues to carry significant debt obligation
Agreement Unlocks Over
GOLDEN, Colo., March 04, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (Nasdaq: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, is pleased to announce that it has successfully negotiated a favorable debt (the “Note”) modification with Partner Colorado Credit Union (“PCCU”). The agreement includes a two-year interest-only period, covering February and March 2025, the two months previously granted. These modified terms are expected to unlock more than
Doug Fagan, President and CEO of Partner Colorado Credit Union stated: “As one of the largest shareholders, we realize that Safe Harbors’ success contributes to the success of our members. We expect this debt modification will provide Safe Harbor with the financial flexibility needed to pursue new opportunities. This agreement underscores our commitment to supporting Safe Harbor’s long-term success and stability.”
“Not only does the note modification significantly enhance our financial standing, I can confidently say that it also provides Safe Harbor with tremendous optionality as we enter this new chapter. The new agreement with PCCU provides us with flexibility to pursue additional opportunities to enhance and expand our service offering and reinforces our commitment to delivering long-term value to all stakeholders. The modification of the Note signifies a pivotal moment for Safe Harbor Financial,” stated Terry Mendez, CEO of Safe Harbor Financial.
About Safe Harbor
Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that have been or may be instituted against or by Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Contact Information
Safe Harbor Investor Relations
ir@SHFinancial.org
KCSA Strategic Communications
Ellen Mellody
safeharbor@kcsa.com
FAQ
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