A marijuana financial institution led by industry pioneer SUNDIE seefried is listing on NASDAQ through a $185 million merger, which will provide the company with more funds to provide loans to marijuana enterprises. Northern lights, a subsidiary of luminous capital, will pay $70 million in cash and $115 million in common stock for safe harbor in Colorado. The company's post transaction equity value is estimated at $327 million. Safe harbor was established in 2015 to provide banking and financial services that meet regulatory requirements for the marijuana industry. The company now has nearly 600 accounts in 20 states. Safe harbor said it had handled $11 billion of transactions so far, including $4 billion in 2021 alone.
Source: mjbizdaily com