Recent Updates — SHFS

SHF Holdings issued 60,570,250 shares of Class A common stock to holders of its Series B Convertible Preferred Stock between October 24 and October 30, 2026. The conversion occurred at a price of $0.1210 per share for an aggregate of 7,329 preferred shares. No additional consideration was received by the company. Total outstanding common shares increased to 85,512,985 as of October 30, 2026. The issuance was exempt from registration under Section 3(a)(9) of the Securities Act. SHF Holdings operates in the financial services industry.

SHF Holdings, Inc. has entered into a non-binding term sheet for a proposed business combination with Opifex Media Inc., a media holding company focused on the creator economy. Under the structure, Opifex would merge into a wholly owned subsidiary of SHF and become its sole operating subsidiary in a transaction accounted for as a reverse acquisition. At closing, existing Opifex security holders are expected to own approximately 85% of the combined company, while SHF stakeholders would retain about 15%, subject to valuation adjustments between 12.5% and 17.5%. The deal aims to create a diversified holding company with two distinct businesses: Opifex’s creator-economy platforms and SHF’s cannabis financial services. The transaction is contingent on due diligence, stockholder approval, Nasdaq listing compliance, and the completion of an independent valuation for Opifex, which is valued at not less than $50 million. SHF operates as a fintech platform providing banking, lending, and payment solutions to the regulated cannabis industry.

SHF Holdings, Inc. filed a Certificate of Amendment to its Certificate of Incorporation with the Delaware Secretary of State on September 29, 2026, effecting a reverse stock split of its common stock at a ratio of 1-for-12. This action was previously approved by stockholders on November 6, 2025, and by the Board of Directors on September 16, 2026. The split became effective at 12:01 a.m., Eastern Time, on September 30, 2026. The company's common stock will continue to trade on the Nasdaq Stock Market LLC under the existing ticker symbol “SHFS,” and it has been assigned a new CUSIP number of 824430 409. SHF Holdings, Inc. operates in the financial services industry, specifically focusing on safe harbor and investment management solutions.

SHF Holdings, Inc. announced that its Board of Directors approved the implementation of a reverse stock split at a ratio of 1-for-12. This action follows prior approval by stockholders at a special meeting held on November 6, 2025. The split is expected to become effective on September 30, 2026, with trading commencing on a split-adjusted basis under the existing ticker symbol SHFS. Every twelve issued and outstanding shares will be combined into one share, with fractional shares rounded up to the nearest whole share. Safe Harbor Financial operates as a fintech platform providing banking, lending, payments, and business services tailored to the regulated cannabis and hemp industries.

SHF Holdings, Inc. reported second quarter 2026 financial results with total revenue of approximately $1.9 million, a 4.8% increase year over year, driven by loan program income growth of 50.7%. Average deposit balances rose 6.8% to $108.4 million, while net loss widened to $(1.5) million from $(0.9) million in the prior year period. The increased loss was primarily due to a $1.0 million non-cash deemed dividend associated with induced conversions of Series B Convertible Preferred Stock and higher general and administrative expenses. Additionally, 3,198 shares of Series B Convertible Preferred Stock were converted into approximately 4.92 million common shares as the conversion price reverted to $1.5528 on July 31, 2026. The company operates in the financial technology sector, providing banking, lending, and compliance services specifically tailored for the regulated cannabis industry.