Northern Lights Acquisition Corp. announces the postponement of a special meeting to approve the acquisition of Safe Harbor Financial
NEW YORK, June 24, 2022 /PRNewswire/ — Northern Lights Acquisition Corp. (NASDAQ: “NLIT”) (“Northern Lights”), a special purpose acquisition company, announced that it has postponed its special meeting of shareholders (the “Special Meeting”) to Monday, June 27, 2022 at 4:00 p.m. ET.
Special meeting held to approve business combination, whereby Northern Lights will acquire all outstanding member interests of SHF, LLC, d/b/a Safe Harbor Financial, and other related matters described in Definitive Power of Attorney of Northern Lights. statement filed with the SEC. The proxy card included with previously distributed proxy materials will not be updated to reflect the adjournment and may continue to be used to vote shares at the special meeting. The record date of the extraordinary meeting, including any adjournment thereof, remains May 19, 2022. Northern Lights shareholders who have already voted and do not wish to change their vote do not need to vote again. Shareholders may use the same instructions contained in the access instruction form or proxy they previously received from the Company’s transfer agent to access the Special Meeting via the URL previously provided: https://www.cstproxy.com/northernlightsacquisitioncorp/2022.
If a Northern Lights shareholder needs assistance completing the proxy card or has questions regarding the special meeting, please contact Northern Lights’ proxy attorney, The Laurel Hill Advisory Group, by telephone at (855) 414-2266 or by email at [email protected]
If the special meeting proposals are approved, the parties anticipate that the business combination will close shortly thereafter, subject to the satisfaction or waiver of the other closing conditions. As part of the business combination, NLIT intends to change its name to SHF Holdings, Inc. and expects its common stock and warrants to remain listed on the NASDAQ Capital Market under the new symbols. “SHFS” and “SHFSW”, respectively.
About Northern Lights Acquisition Corp.
Northern Lights is a blank check corporation formed for the purpose of effecting a merger, amalgamation, stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more companies. For more information, visit https://northernlightsacquisitioncorp.com/home/default.aspx.
About Safe Harbor
Safe Harbor is one of the first financial services providers to offer reliable access to banking solutions for cannabis, hemp, CBD and ancillary operators, making communities safer, stimulating the growth of local economies and fostering partnerships long-term. Safe Harbor, through its partners, serves the regulated cannabis industry and implements the highest standards of accountability, transparency, monitoring, reporting, and risk mitigation measures while adhering to BSA obligations under the FinCEN CRB Guidelines. Over the past seven years, Safe Harbor (including its predecessor) has processed over $12 billion in transactions with operations spanning 20 states with regulated cannabis markets. For more information, visit www.shfinancial.org.
Caution Regarding Forward-Looking Statements
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements may include, but are not limited to, statements regarding (i) trends in the cannabis industry, including changes in United States and state laws, rules, regulations and guidelines regarding Safe Harbor services; (ii) Safe Harbor’s growth prospects and Safe Harbor market size; (iii) Safe Harbor’s projected financial and operating performance, including relative to its competitors; (iv) new product and service offerings that Safe Harbor may introduce in the future; (v) the proposed business combination, including the implied enterprise value, the expected ownership structure after closing and the likelihood and ability of the parties to complete the potential transaction; (vi) the risk that the proposed business combination will not be completed in a timely manner or that it will not be completed at all, whether due to recent financial market volatility or otherwise, which could have a adverse effect on the trading price of Northern Lights securities; (vii) failure to satisfy the conditions to the completion of the proposed business combination, including the approval of the proposed business combination by the shareholders of Northern Lights; (viii) the effect of the announcement or expectation of the proposed business combination on the business relationships, performance and operations of Northern Lights or Safe Harbor generally; (ix) the outcome of any legal proceedings that may be brought against Northern Lights or Safe Harbor relating to the definitive unit purchase agreement or the proposed business combination; (x) the ability to maintain the listing of Northern Lights securities on the Nasdaq Capital Market; (xi) the price of Northern Lights securities, including volatility resulting from changes in the competitive and highly regulated industry in which Safe Harbor intends to operate, variations in performance among competitors, changes in laws and regulations affecting Safe Harbor’s operations and changes in the combined capital structure; (xii) the ability to implement business plans, forecasts and other expectations after completion of the proposed business combination, and to identify and realize additional opportunities; and (xiii) other statements regarding Safe Harbor’s and Northern Lights’ expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statement that refers to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, is a forward-looking statement. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “plan”, “may”, “could”, ” plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of such words does not mean that a statement is not prospective. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, therefore, are subject to risks and uncertainties. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of Northern Lights’ proxy statement regarding the proposed business combination, which has been filed with the SEC, other documents filed by Northern Lights from time to time with the SEC, and any risk factors made available to you in connection with Northern Lights, Safe Harbor and the Transaction. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond Safe Harbor and Northern Lights’ control), and other assumptions, which may cause actual results or performance to differ materially from those expressed. or implied by these forward-looking statements.
Additional information on the business combination and where to find it
The proposed business combination involving Northern Lights and Safe Harbor has been reviewed by Northern Lights shareholders. Northern Lights has filed a definitive proxy statement on Schedule 14A (the “Proxy Circulation”) with the SEC on June 10, 2022, which was distributed to Northern Lights shareholders in connection with Northern Lights’ solicitation of proxies for voting by Northern Lights shareholders on the proposed business combination and other matters described in the proxy statement . Before making any voting decision, Northern Lights shareholders and other interested persons are urged to read the proxy statement, as well as all other relevant documents filed or to be filed with the SEC in connection with the combination. proposed business and solicitation of Northern Lights. of proxies for its special meeting of shareholders to be held to approve, among other things, the proposed business combination, as these documents will contain important information about Northern Lights, Safe Harbor and the proposed business combination. Shareholders may obtain free copies of the proxy statement, as well as other documents filed with the SEC relating to the proposed business combination and other documents filed with the SEC by Northern Lights, free of charge, on the SEC’s website located at www.sec.gov or by making a request to Northern Lights Acquisition Corporation, 10 East 53rd Street, Suite 3001, New York, NY10022, or by phone at (615) 554-0044.
No offer or solicitation
This announcement is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor a solicitation of any vote or approval, and there will be no sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
Participants in the solicitation
Northern Lights and Safe Harbor, and certain of their respective directors and officers, under SEC rules, may be considered participants in the solicitation of proxies from Northern Lights stockholders in support of the approval of the business combination. companies. Information about the directors and officers of Northern Lights and their ownership of Northern Lights Class B common stock may also be found in Northern Lights’ registration statement on Form S-1 filed with the SEC on June 2, 2021 in connection with its initial public offering, its annual report on Form 10-K for the fiscal year ended December 31, 2021 filed with the SEC on March 25, 2022, the proxy statement and other documents subsequently filed by Northern Lights with the SEC. Information about the directors and officers of Safe Harbor, as well as information about the interests of other persons who may be considered participants in the transaction, may be obtained by reading the proxy statement regarding the business combination. when it becomes available. Additional information regarding the interests of such participants will also be included in the proxy statement relating to the business combination if and when it becomes available. Free copies of this document can be obtained as described above.
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SOURCE Safe Harbor Financial; Northern Lights Acquisition Corp.