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SHF Holdings Stock Surges 150% Following $150 Million Stock Purchase Agreement
SHF Holdings Stock Surges 150% Following $150 Million Stock Purchase Agreement
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BTCCSquare news:
SHF Holdings (SHFS) shares skyrocketed 152% on Wednesday after announcing a strategic stock purchase agreement with CREO Investments LLC. The deal allows the company to sell up to $150 million in shares at a minimum price of $1 per share, with CREO paying the lesser of 90% of the lowest sale price or the volume-weighted average price during the purchase period.
The rally marks a sharp reversal for SHFS, which had declined 6.8% year-to-date and 70% over the past 12 months prior to the announcement. Trading volume surged as investors digested the news, which includes plans to file a registration rights agreement with the SEC to facilitate future share resales.
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