WASHINGTON, D.C. — Nelson Mullins represented Northern Lights Acquisition Corp. in a recent business combination agreement with SHF, LLC, d/b/a Safe Harbor Financial. Upon the closing of the business combination transaction, Northern Lights will acquire Safe Harbor from a subsidiary of Partner Colorado Credit Union. The total purchase price for this acquisition is $185 million, of which $70 million will be paid in cash and $115 million in shares of Northern Lights Class A common stock. Leading the effort were securities partners Andy Tucker and Nina Gordon, along with associates Andrew Nielsen and Adam Marshall. Fellow firm attorneys Larry Shackelford, Kyla Wonder, Drew Hermiller, Chris Casavale, and Carrie Hanger provided structuring assistance.

Northern Lights is a special purpose acquisition company, or “SPAC,” formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.

Safe Harbor is a leading cannabis-focused financial services provider offering reliable access to banking and financing solutions for the cannabis industry.

Tucker is a corporate and securities advisor to growing companies, particularly in the technology and government contracting sectors, with a significant focus on SPAC initial public offerings and “de-SPAC” business combinations. He assists his clients with a broad variety of transactional support, including venture capital and private equity transactions, joint ventures, mergers and acquisitions, and public and private securities offerings.

Gordon focuses on representing public and private companies in various industries including financial services, in corporate finance and acquisition transactions including initial public offerings and secondary offerings, acquisition transactions and strategic ventures, and in corporate governance and board matters.

Nielsen practices in the areas of corporate finance, joint ventures, commercial agreements, securities, and general corporate matters.

Marshall concentrates his practice on public and private securities offerings, reporting, and compliance under the 1933 Act and the 1934 Act and general corporate matters, with a specific focus on real estate investment trusts (REITs).

Shackelford represents public companies in public offerings, mergers and acquisitions, control contests and other securities law matters, and representing private companies in venture capital financings. 

Wonder handles transactional matters, including mergers and acquisitions, and assists healthcare providers with healthcare regulatory compliance, licensure, and operational matters.

Hermiller practices with the tax and benefits group and has experience counseling clients on complex domestic and cross border transactional tax matters, including all manner of taxable and tax–free mergers and acquisitions, partnership taxation, REIT taxation, debt and equity financing, audit defense, and tax reporting.

Casavale focuses his practice in the areas of trademark, copyright, domain name law, and strategic counseling.

Hanger specializes in filings under the Hart-Scott-Rodino Act, in addition to her practice assisting healthcare systems, surgical centers, physician groups, long–term care facilities, hospices, home health providers, and entities engaged in clinical research.

View the Northern Lights press release here.

Established in 1897, Nelson Mullins is an Am Law 100 firm of more than 930 attorneys and government relations professionals with 30 offices in 14 states and Washington, D.C. For more information on the firm, go to www.nelsonmullins.com.