Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, DC 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SHF Holdings, Inc.
| (Name of Issuer) |
|
Class A Common Stock, $0.0001 par value per share |
| (Title of Class of Securities) |
824430102 |
| (CUSIP Number) |
|
|
| June 23, 2022 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
o Rule 13d-1(b)
x Rule 13d-1(c)
o Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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CUSIP No. 824430102
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SCHEDULE 13G/A
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Page 2
of 13 Pages
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1
|
NAME OF REPORTING PERSONS
Vellar Opportunities Fund Master, Ltd.
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|||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
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||
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3
|
SEC USE ONLY
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|||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
971,204**
|
|||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
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|||
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12
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TYPE OF REPORTING PERSON
CO
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|||
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CUSIP No. 824430102
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SCHEDULE 13G/A
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Page
3 of 13 Pages
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1
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NAME OF REPORTING PERSONS
Cohen & Company Financial Management, LLC
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|||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
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||
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3
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SEC USE ONLY
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|||
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|||
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
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SOLE DISPOSITIVE POWER
0
|
|||
|
8
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SHARED DISPOSITIVE POWER
971,204**
|
|||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
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CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
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|||
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12
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TYPE OF REPORTING PERSON
IA, OO
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|||
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CUSIP No. 824430102
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SCHEDULE 13G/A
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Page 4
of 13 Pages
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1
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NAME OF REPORTING PERSONS
Dekania Investors, LLC
|
|||
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2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
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||
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3
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SEC USE ONLY
|
|||
|
4
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CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|||
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
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SOLE DISPOSITIVE POWER
0
|
|||
|
8
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SHARED DISPOSITIVE POWER
971,204**
|
|||
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
|
|||
|
12
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TYPE OF REPORTING PERSON
OO, HC
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|||
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CUSIP No. 824430102
|
SCHEDULE 13G/A
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Page 5
of 13 Pages
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1
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NAME OF REPORTING PERSONS
Cohen & Company LLC
|
|||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
|
||
|
3
|
SEC USE ONLY
|
|||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
971,204**
|
|||
|
9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
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|||
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12
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TYPE OF REPORTING PERSON
OO, HC
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|||
**The SPV entity is Vellar Opportunity Fund SPV LLC – Series 1 which is wholly owned by Vellar Opportunities Fund Master, Ltd.
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CUSIP No. 824430102
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SCHEDULE 13G/A
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Page 6
of 13 Pages
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1
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NAME OF REPORTING PERSONS
Cohen & Company Inc.
|
|||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
|
||
|
3
|
SEC USE ONLY
|
|||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
971,204**
|
|||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
|
|||
|
12
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TYPE OF REPORTING PERSON
CO, HC
|
|||
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CUSIP No. 824430102
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SCHEDULE 13G/A
|
Page 7
of 13 Pages
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1
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NAME OF REPORTING PERSONS
Daniel G. Cohen
|
|||
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) o
(b) o
|
|
||
|
3
|
SEC USE ONLY
|
|||
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
|||
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
0
|
||
|
6
|
SHARED VOTING POWER
971,204**
|
|||
|
7
|
SOLE DISPOSITIVE POWER
0
|
|||
|
8
|
SHARED DISPOSITIVE POWER
971,204**
|
|||
|
9
|
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|||
|
10
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
|
o
|
||
|
11
|
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.1%
|
|||
|
12
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TYPE OF REPORTING PERSON
IN, HC
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|||
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CUSIP
No. 824430102
|
SCHEDULE 13G/A
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Page 8
of 13 Pages
|
| Item 1. | (a) Name of Issuer |
SHF Holdings, Inc.
| Item 1. | (b) Address of Issuer’s Principal Executive Offices |
1526 Cole Blvd., Suite 250
Golden, Colorado 80401
| Item 2. | (a) Name of Persons Filing: |
Vellar Opportunities Fund Master, Ltd.
Cohen & Company Financial Management, LLC
Dekania Investors, LLC
Cohen & Company LLC
Cohen & Company Inc.
Daniel G. Cohen
| Item 2. | (b) Names of Person Filing, Address of Principal Business Office, Citizenship: |
Vellar Opportunities Fund Offshore, Ltd.
c/o Mourant Governance Services (Cayman) Limited 94
Solaris Avenue, Camana Bay
PO Box 1348 Grand Cayman KY1-1108
Cayman Islands
Cohen & Company Financial Management, LLC
3 Columbus Circle, Suite 2400
New York, New York 10019
United States
Dekania Investors, LLC
3 Columbus Circle, Suite 2400
New York, New York 10019
United States
Cohen & Company LLC
3 Columbus Circle, Suite 2400
New York, New York 10019
United States
Cohen & Company Inc.
3 Columbus Circle, Suite 2400
New York, New York 10019
United States
Daniel Cohen
c/o Cohen & Company Inc.
3 Columbus Circle, Suite 2400
New York, New York 10019
United States
| Item 2. | (c) Citizenship: |
Vellar Opportunities Fund Master, Ltd. – Cayman Islands
Cohen & Company Financial Management, LLC – Delaware, United States
Dekania Investors, LLC – Delaware, United States
Cohen & Company LLC – Delaware, United States
Cohen & Company Inc. – Delaware, United States
Daniel G. Cohen – United States
| Item 2. | (d) Title of Class of Securities |
Class A Common Stock, $0.0001 par value per share (the “Common Stock”)
| Item 2. | (e) CUSIP No.: |
824430102
|
CUSIP No. 824430102
|
SCHEDULE 13G/A
|
Page 9
of 13 Pages
|
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) | ¨ | Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); | |
| (b) | ¨ | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); | |
| (c) | ¨ | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); | |
| (d) | ¨ | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8); | |
| (e) | o | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | ¨ | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | ¨ | A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); | |
| (h) | ¨ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ¨ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); | |
| (j) | ¨ | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); | |
| (k) | ¨ | A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: | |
|
CUSIP
No. 824430102
|
SCHEDULE 13G/A
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Page
10 of 13 Pages
|
Item 4. Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
Vellar Opportunities Fund Master, Ltd.
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Cohen & Company Financial Management, LLC
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Cohen & Company Inc.
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Dekania Investors, LLC.
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Cohen & Company, LLC
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Daniel G. Cohen:
(a) Amount beneficially owned: 971,204**
(b) Percent of class: 8.1%
(c) Number of shares to which the person has:
(i) Sole power to vote or to direct the vote:
(ii) Shared power to vote or to direct the vote: 971,204**
(iii) Sole power to dispose or direct the disposition:
(iv) Shared power to dispose or to direct the disposition: 971,204**
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Please see Exhibit II attached hereto.
Item 8. Identification and Classification of Members of the Group
Not Applicable.
Item 9. Notice of Dissolution of Group
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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CUSIP No. 824430102
|
SCHEDULE 13G/A
|
Page
11 of 13 Pages
|
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 14, 2023
Vellar Opportunities Fund Master, Ltd. | |||
| By: | /s/ Solomon I. Cohen | ||
| Solomon I. Cohen, Director | |||
Cohen & Company Financial Management, LLC By: Cohen & Company Inc. | |||
| By: | /s/ Daniel G. Cohen | ||
| Daniel G. Cohen, Chairman of the Board of Directors | |||
Dekania Investors, LLC | |||
| By: | /s/ Joseph Pooler | ||
| Joseph Pooler, Chief Financial Officer | |||
Cohen & Company LLC | |||
| By: | /s/ Joseph Pooler | ||
| Joseph Pooler, Chief Financial Officer | |||
Cohen & Company Inc. | |||
| By: | /s/ Daniel G. Cohen | ||
| Daniel G. Cohen, Chairman of the Board of Directors | |||
| By: | /s/ Daniel G. Cohen | ||
|
CUSIP No. 824430102
|
SCHEDULE 13G/A
|
Page 12
of 13 Pages
|
Exhibit I
JOINT FILING STATEMENT
PURSUANT TO RULE 13d-1(k)
The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint Acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such info rmation is inaccurate.
Dated: February 14, 2023
Vellar Opportunities Fund Master, Ltd. | |||
| By: | /s/ Solomon I. Cohen | ||
| Solomon I. Cohen, Director | |||
Cohen & Company Financial Management, LLC By: Cohen & Company Inc. | |||
| By: | /s/ Daniel G. Cohen | ||
| Daniel G. Cohen, Chairman of the Board of Directors | |||
Dekania Investors, LLC | |||
| By: | /s/ Joseph Pooler | ||
| Joseph Pooler, Chief Financial Officer | |||
Cohen & Company LLC | |||
| By: | /s/ Joseph Pooler | ||
| Joseph Pooler, Chief Financial Officer | |||
Cohen & Company Inc. | |||
| By: | /s/ Daniel G. Cohen | ||
| Daniel G. Cohen, Chairman of the Board of Directors | |||
| By: | /s/ Daniel G. Cohen | ||
|
CUSIP No. 824430102
|
SCHEDULE 13G/A
|
Page 13
of 13 Pages
|
Exhibit II
Cohen & Company Financial Management, LLC and Cohen & Company Inc. are the relevant entities for which Mr. Cohen may be considered a control person.