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SHF Holdings, Inc. (NASDAQ:SHFS), a finance services company, announced today that its stockholders have voted in favor of a reverse stock split during a special meeting held on March 13, 2025. The approved amendment to the Company’s Certificate of Incorporation allows for a reverse stock split of the outstanding Class A common stock at a ratio of not more than 1-for-20, to be executed at the Board’s discretion. The company’s stock, currently trading at $0.28, has experienced significant pressure, declining about 68% over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels.
The proposal was passed with 41,784,116 votes in favor, 661,114 against, and 200 abstentions. As the proposal received the required votes for adoption, there was no need for an adjournment to solicit additional votes or to establish a quorum.
The reverse stock split is aimed at increasing the per-share trading price of SHF Holdings’ common stock, which could lead to improved marketability and liquidity for its shares. Despite recent price challenges, the company maintains a healthy gross profit margin of 100% and trades at attractive multiples, with a P/E ratio of 4.2 and Price/Book of 0.4. The company, formerly known as Northern Lights Acquisition Corp., has been incorporated in Delaware and is headquartered in Golden, Colorado. InvestingPro subscribers can access 15+ additional key insights and detailed financial metrics about SHFS.
This strategic move comes at a time when SHF Holdings is positioning itself for future growth within the finance sector. The company’s Class A Common Stock and Redeemable Warrants are currently traded on The Nasdaq Stock Market under the symbols SHFS and SHFSW, respectively.
The information for this article is based on a press release statement filed with the U.S. Securities and Exchange Commission.
In other recent news, SHF Holdings, Inc. has made several notable announcements. The company reported the upcoming departure of Tyler Beuerlein, its Chief Strategic Business Development Officer, effective March 17, 2025. SHF Holdings also appointed Terrance Mendez as the new Co-Chief Executive Officer, alongside Sundie Seefried, effective January 21, 2025. Mendez brings extensive experience from previous leadership roles in various cannabis-related businesses. Furthermore, SHF Holdings has extended its Commercial Alliance Agreement with Partner Colorado Credit Union through December 31, 2028. This revised agreement includes changes to the loan yield allocation formula and eliminates certain servicing fees. In related developments, Safe Harbor Financial, a fintech company affiliated with SHF Holdings, has renegotiated its debt terms with Partner Colorado Credit Union, securing a two-year interest-only period to improve cash flow. Additionally, Safe Harbor has paused principal payments as part of ongoing credit talks, aiming to finalize modifications within a two-month period.
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