In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. BM Technologies to reduce workforce by ~25%, appoints president. An Overview of Blue Chips. Sentiment N/A. MFAC consummated its initial public offering on the NYSE in August 2018 and is listed under the symbol MFAC. More information can be found on its website at http://www.megalithfinancial.com. . News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. Certain statements in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. In addition, at the closing, Customers Bank may be repaid a portion of the $40 million debt owed to it by BMT with the new Company assuming any unpaid debt. Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $151,500,000 (or $10.10 per unit sold in the public offering) was placed in trust. One share of MFAC stock can currently be purchased for approximately $3.33. Pro forma net leverage of 4.2x based upon 2020E pro forma core EBITDA of $3.8M. For a more complete discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review Customers Bancorp, Inc.s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K for the year ended December 31, 2019, subsequently filed quarterly reports on Form 10-Q and current reports on Form 8-K, including any amendments thereto, that update or provide information in addition to the information included in the Form 10-K and Form 10-Q filings, if any. Carla Leibold, CFO 484-923-8802. The balance of the consideration will consist of shares of common stock in the combined Company, each to be valued at $10.38 per share. BankMobile Technologies, a subsidiary of Customers Bank, and one of Americas largest digital banking platforms, and Megalith Financial Acquisition Corp (NYSE: MFAC), a special purpose acquisition . Investors are cautioned that there can be no assurance actual results or business conditions will not differ materially from those projected or suggested in such forward-looking statements as a result of various factors. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. All BMT serviced deposits and loans will remain at Customers Bank immediately after the closing of the transaction. Information about the directors and executive officers of MFAC and a description of their interests in the Company are contained in the Preliminary Proxy Statement and the Registration Statement filed with the SEC. No news. 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Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Customers Bank is expected to remain the largest investor in the Company by rolling over significant equity into the combined Company. But now that the U.S. has classified it as "essential for America's National Defense" one little-known company could become America's ONLY fully integrated graphite provider. Cavalry's Rosenberger defends that he's making a big acquisition in the audio space and that more cash is on its way to right the ship here. the Business Combination). Additional Information and Where to Find It. Each holder of Customers common stock is entitled to receive 0.15389 shares of BMT common stock for each share of Customers common stock held as of the close of business on December 18, 2020. No offer of securities shall be made except by means of a definitive document. For more information, please visit WestrockCoffee.com. Customers Bancorp, Inc. is a bank holding company located in West Reading, Pennsylvania engaged in banking and related businesses through its bank subsidiary, Customers Bank, a full-service bank with $18.8 billion in assets as of September 30, 2020. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The official website for the company is www.megalithfinancial.com. New York, NY, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Megalith Financial Acquisition Corp. (NYSE:MFAC.U) (the "Company") announced today that it closed its initial public offering of 15,000,000. Please refer to the risks detailed from time to time in the reports we file with the Securities and Exchange Commission (SEC), including our proxy statement/prospectus filed with the SEC on December 11, 2020, our Annual Report on Form 10-K for the year ended December 31, 2019, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. Copies are available on the SEC's website,www.sec.gov. Get a full understanding of how Megalith Financial Acquisition Corp is performing with stock quotes and prices, as well . From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. No offer of securities shall be made except by means of a definitive document. received from newly issued shares through a PIPE transaction and assumed debt of $40M. The company plans to . About. Such statements are based on managements current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company filed with the SEC a preliminary proxy statement on September 21, 2020 (the Preliminary Proxy Statement), a registration statement on Form S-4 (File No. The transaction is structured as a forward subsidiary merger, whereby BankMobile will merge with a newly-formed subsidiary of MFAC, with MFACs merger subsidiary continuing as the surviving entity and a wholly-owned subsidiary of MFAC. On September 8, 2022, the Company announced that FTFT HK signed a Memorandum of Understanding with Alpha Financial to acquire Alpha HK. If you have an ad-blocker enabled you may be blocked from proceeding. Additionally, BankMobile recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. MFAC consummated its initial public offering on the NYSE in August 2018 and is listed under the symbol MFAC. More information can be found on its website at http://www.megalithfinancial.com. Real-time analyst ratings, insider transactions, earnings data, and more. The Company's units began trading on the New York Stock Exchange under the ticker symbol MFAC.U on August 24, 2018. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . Norcross, Georgia, and San Antonio, Texas, March 01, 2023 (GLOBE NEWSWIRE) -- Viveon Health Acquisition Corp. (NYSE American: VHAQ, VHAQW, VHAQR, VHAQU), a special purpose acquisition company led by . We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, unless required by law. Megalith Financial Acquisition Corp Registered Shs -A-, Plus500. Following the transfer, the Company will continue to file the same periodic reports and other information it currently files with the Securities and Exchange Commission (the SEC). Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Customers Bancorp, Inc. does not undertake to update any forward-looking statement whether written or oral, that may be made from time to time by Customers Bancorp, Inc. or by or on behalf of Customers Bank, except as may be required under applicable law. Additional Information and Where to Find It. Transaction will be funded through a combination of company's common stock, cash held in the MFAC trust account, proceeds. Customers Bank is to receive approximately $97 million in consideration comprised of cash, stock in the Company, and approximately $10 million in value attributed to a new technology license with BMT, with the total consideration subject to potential adjustment based on certain factors described in the merger agreement for the business combination (the Merger Agreement). This release shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. Please refer to the risks detailed from time to time in the reports we file with the SEC, including the Preliminary Proxy Statement, the Registration Statement, the Definitive Proxy Statement, our Annual Report on Form 10-K for the year ended December 31, 2019, as well as other filings on Form 10-Q and periodic filings on Form 8-K, for additional factors that could cause actual results to differ materially from those stated or implied by such forward-looking statements. Today, the BankMobile BaaS platform is provided to colleges and universities and currently serves over two million account-holders, and provides disbursement services at 722 campuses (covering one out of every three students in the U.S.). A.J. Such statements are based on managements current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Megalith Financial Acquisition Corp. Scott and his team continue to grow with their impressive customer base and look to serve their customers not only through traditional private brand offerings but also through the creation of products for specific customer segments and influencer-based brands. Mr. Fisher will serve as Senior Vice President of Sales while Mr. Hotchkis will be named Vice President of Sales. The business combination and related equity financing (together, the Transactions) are expected to close in the fourth quarter 2020, pending MFAC stockholder approval and regulatory approval. New York, NY, Aug. 28, 2018 (GLOBE NEWSWIRE) -- Megalith Financial Acquisition Corp. (NYSE:MFAC.U) (the "Company") announced today that it closed its initial public offering of 15,000,000 units. If you recall, Megalith was not offering a contribution to trust for non-redeeming shareholders and while MFAC had put out a teaser ahead of . Richard Ehst, President & COO 610-917-3263 The special committees of each party reviewed this transaction and made unanimous recommendations to their respective boards of directors for approval. More information can also be found at https://www.megalithfinancial.com/investor-relations. The transaction reflects an enterprise value for the Company of $140 million. Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters. Feb 23, 2023. MFAC has received binding commitments of approximately $20 million for a common stock private placement, which commitments exceed the minimum cash closing condition required by the Merger Agreement. Megalith Financial Acquisition Corp. is a publicly traded investment vehicle formed for the purpose of acquiring or merging with one or more businesses in the financial technology or financial services industries. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. Is Stellantis Stock a Value Investors Dream? To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Vantage Point Advisors is acting as a financial advisor to MFACs special committee and provided a fairness opinion for the transaction to the special committee. FREE Breaking News Alerts from StreetInsider.com! In an era when digital banking continues to expand, we look forward to building our business over the coming years and taking advantage of all strategic opportunities, said BankMobile CEO Luvleen Sidhu. NEW YORK, NY, Dec. 08, 2020 (GLOBE NEWSWIRE) -- Megalith Financial Acquisition Corp. (the Company or MFAC) (NYSE: MFAC, MFAC.W, MFAC.U), a special purpose acquisition company, announced today that it will voluntarily delist from The New York Stock Exchange (NYSE) and simultaneously transfer to the NYSE American LLC (NYSE American), where the Company has been simultaneously approved for listing. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. Before making any investment decision, investors and stockholders of the Company are urged to carefully read the Registration Statement and the Definitive Proxy Statement, and other relevant documents filed with the SEC, because such documents will contain important information about the Company, BankMobile and the Proposed Transaction. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. Silver Spike III Acquisition Corp. (NEO: "SPKC.U" and "SPKC.WT.U") (the "Corporation") is reporting its financial results as of December 31, 2022 and for the period from inception on March 22 . Transfers Listing to NYSE American LLC, BankMobile Technologies, Inc. and Megalith Financial Acquisition Corp. to Participate inSPACInsider Webinar on December 8that 1pm ET and Attend 2020 Raymond James Technology Investors Conference, 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. Sign in to your free account to enjoy all that MarketBeat has to offer. On December 9, 2020, Customers announced that its Board of Directors had set December 18, 2020 as the record date for the conditional special distribution, comprised of the shares of BMT common stock to be issued on closing of the Merger. There may be additional risks that Westrock Coffee does not presently know, or that Westrock Coffee currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Contact A.J. Many actual events and circumstances are beyond the control of Westrock Coffee. No assurance can be given that the net proceeds of the offering will be used as indicated. (844) 978-6257. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. All forward-looking statements and information set forth herein are based on managements current beliefs and assumptions as of the date hereof and speak only as of the date they are made. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Megalith Financial Acquisition trades on the New York Stock Exchange (NYSE) under the ticker symbol "MFAC.". Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. In light of the relationship between MFACs sponsor and certain officers and directors of BankMobiles ultimate parent entity Customers Bankcorp Inc. (CUBI), both MFAC and CUBI appointed special committees consisting of independent directors with full access to counsel and financial advisors. 333-249815) on November 3, 2020, as amended on November 18, 2020 (the Registration Statement) (which includes the Preliminary Proxy Statement, as amended, and a prospectus (the Prospectus) in connection with the Proposed Transaction), and will file other documents regarding the Proposed Transaction with the SEC. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Stockholders may also obtain copies of the Definitive Proxy Statement, without charge, at the SECs website at www.sec.gov or by directing a request to: Megalith Financial Acquisition Corp., 535 Fifth Avenue, 29th Floor, New York, New York 10017. Miles and Remington bring a depth of knowledge on these emerging channels that we are adding to the Westrock Coffee portfolio, including the co-creation of new influencer brands that are particularly appealing to young consumers. Get short term trading ideas from the MarketBeat Idea Engine. December 21, 2020 21:42 ET Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $24.73 million. In connection with the closing of the Merger, Megalith is changing its name to BM Technologies, Inc. (BMT) and will trade under the symbol BMTX starting Wednesday, January 6, 2021. We are delighted to be able to distribute stock to CUBI shareholders in a fast-growing fintech company that was incubated in Customers Bancorp that has and is expected to continue to provide significant shareholder return. MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse But the U.S. is about to strike back with a forceful plan of action to increase domestic production. MFAC and its directors and executive officers may, under the rules of the SEC, be considered participants in the solicitation of proxies with respect to the Proposed Transaction described herein. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). 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