SHF Holdings issued 60.57 million common shares to holders of its Series B preferred stock in conversions completed from Oct. 24 through Oct. 30. The issuance expanded the company’s common shares outstanding to 85.51 million, from 24.94 million on Oct. 23, without bringing in additional cash.
- The shares were issued at a conversion price of $0.1210 per share in exchange for 7,329 shares of Series B preferred stock.
- The 60.57 million new shares were about 2.4 times SHF’s common shares outstanding before the conversions. They represented roughly 71% of the 85.51 million shares outstanding at Oct. 30.
- The conversions stemmed from a preferred-stock financing arrangement SHF entered into in September 2025. The company received no additional consideration for these conversions.
Implications: The conversions substantially increased SHF’s common share count. For shareholders who did not receive new shares, that means a smaller proportional ownership stake in the company.