Safe Harbor Financial signs non-binding term sheet to combine with Opifex Media
SHFS•Safe Harbor Financial signed a non-binding term sheet to combine with Opifex Media, creating a Nasdaq-listed diversified holding company. The term sheet contemplates an Opifex valuation of at least $50 million; Opifex holders would own 85% and Safe Harbor stakeholders 15% at closing.
1. Proposed combination
SHF Holdings, doing business as Safe Harbor Financial, signed a non-binding term sheet to combine with Opifex Media and create a Nasdaq-listed diversified holding company. The combined company would remain listed on Nasdaq under a new name, with Greg Newman as chairman.
2. Ownership and valuation
The term sheet contemplates Opifex holders owning 85% of the combined company and Safe Harbor stakeholders owning 15% at closing. It values Opifex at no less than $50 million.
