Nasdaq grants Safe Harbor Financial extra 180 days to meet bid price

The Nasdaq Stock Market LLC granted SHF Holdings, Inc., d/b/a Safe Harbor Financial (NASDAQ: SHFS), an additional 180-calendar-day period to regain compliance with its minimum bid price requirement. This extension allows the company to remain listed on The Nasdaq Capital Market until April 19, 2027, despite previously failing to meet the $1.00 per share threshold.

The initial notice of non-compliance was issued on April 22, 2026, providing Safe Harbor with a first compliance period that ended on October 19, 2026. Nasdaq approved the additional time because the company satisfied all other continued listing requirements, including the market value of publicly held shares, with the exception of the bid price rule. The company has informed Nasdaq of its intention to cure the deficiency during this second period, potentially through a reverse stock split if necessary.

Safe Harbor’s common stock will continue to trade under the symbol SHFS without immediate impact from this notification. To close the matter, the closing bid price of the shares must reach at least $1.00 per share for a minimum of 10 consecutive business days at any point before the April 19, 2027 deadline. If this condition is met, Nasdaq will provide written confirmation that the company has regained compliance.

Terrance Mendez, Chief Executive Officer and Chief Financial Officer of Safe Harbor, stated that the company is committed to meeting listing requirements while exploring multiple strategies to regain compliance. Mendez noted that the company’s deposit base has grown to levels not seen since April 2024, as measured by the trailing 14-day average balance. He added that the lending business is growing and the platform has broadened, citing a regulatory backdrop for cannabis banking that he described as the most favorable it has ever been.

Safe Harbor operates as a fintech provider offering banking, lending, payments and business services specifically for regulated cannabis and hemp operators. The company is not a bank; banking services are provided by partner financial institutions. According to the company, it has assisted in processing more than $36 billion in cannabis-related depository funds across 41 states and territories through its proprietary platform and network of partners.