Key Highlights

  • SHF Holdings (NASDAQ:SHFS) was trading up 44.89% at USD 0.0326 on Friday, November 13, 2026, in market data; the implied prior close of about USD 0.0225 is calculated and may be unreliable.
  • The shares recently closed below USD 0.10 for eight straight Business days, and ten such days would trigger a Nasdaq delisting determination, according to the company's November 9, 2026 Shareholder letter.
  • Common shares outstanding rose from about 1.03 million on September 30 to about 132.2 million on November 6, 2026, after Series B preferred conversions of about 131.2 million shares.
  • Third quarter 2026 Revenue was USD 1.95 million, up 6.5%, with a net loss of about USD 0.98 million and a Going Concern disclosure in the financial statements.

Bounce From Sub-USD 0.10 Lows, Cause Unconfirmed

SHF Holdings (NASDAQ:SHFS) was trading up 44.89% at USD 0.0326 on Friday, November 13, 2026, in market data. No company announcement dated November 11 to 13 explaining the move was found. The company, known as Safe Harbor, provides financial services to cannabis-related businesses. A bounce from such a low price is not news by itself, because a small number of trades can move the quote, spreads can be wide and gains can reverse, and the screener's implied prior close of about USD 0.0225 is calculated. The company said in its November 9, 2026 letter that the stock has largely traded below USD 1.00 since the split and that it may seek approval for a further reverse split.

Series B Conversions, Opifex Term Sheet and Nasdaq Limits

A 1-for-12 reverse split took effect on September 30, 2026. On October 22 the Series B preferred conversion price reset from USD 18.6336 to USD 0.1210, and holders converted 19,529 Series B shares into about 131.2 million common shares by November 6. A further 7,605 Series B shares could convert into up to about 62.9 million more. On October 23 the company signed a nonbinding term sheet with Opifex Media, a creator-economy media company, under which Opifex holders would own about 85% and legacy holders about 15%, adjustable between 12.5% and 17.5%. Completion needs definitive agreements, a fairness opinion, stockholder and Nasdaq approvals, and there is no assurance it closes.

Delisting Math, Abaca Litigation and Going Concern Risk

Nasdaq granted a second 180-day compliance period through April 19, 2027, and a close at or above USD 1.00 for 10 consecutive business days is required. Stockholders' Equity was USD 5.2 million at September 30, above the USD 2.5 million minimum. In the Abaca litigation, trial was held August 10 and 11, 2026 with no ruling; the company estimates a reasonably possible loss of USD 0 to USD 7.8 million plus interest. It raised USD 1.1 million through its equity line in the first nine months and does not plan to draw while the term sheet is in effect.

Where Things Stand

No verified catalyst explains the 44.89% rise. SHF Holdings (NASDAQ:SHFS) has bounced from a quote below USD 0.10 while heavy Series B conversions, a pending Opifex Merger term sheet and a Nasdaq bid price deficiency all remain unresolved. A tenth close below USD 0.10 would prompt a delisting determination, so the price path matters. Next markers are a definitive Opifex agreement, a possible further reverse split vote and any ruling in the Abaca case.