Cannabis financier SHF Holdings buys fintech firm Abaca for $30 million

Colorado-based cannabis-focused finance company SHF Holdings said it is spending $30 million in a cash-and-stock deal to acquire financial technology company Rockview Digital Solutions, which does business as Abaca.

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According to a news release:

When the deal closes, shareholders of North Little Rock, Arkansas-headquartered Abaca will receive $3 million in cash and $8.4 million in common stock based on the 10-day volume-weighted average price (VWAP) of Safe Harbor common stock. One year after the deal closes, SHF Holdings will pay out another $3 million in cash and $12.6 million in common stock based on the 10-day VWAP preceding the one-year anniversary. Two years after the deal closes, Abaca shareholders will receive a final cash payment of $3 million.

“With their ecosystem of cannabis banking and finance platform, proprietary technology, strong financial institution and banking relationships, and experienced founder-led management team, we believe Abaca is the

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Colorado-based cannabis-focused finance company SHF Holdings said it is spending $30 million in a cash-and-stock deal to acquire financial technology… Continue reading
The post Cannabis financier SHF Holdings buys fintech firm Abaca for $30 million appeared first on GrowCola.com.