It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. This press release is intended to provide information to Customers Bancorp shareholders regarding the conditional special distribution and is not an offer to sell or the solicitation of an offer to buy any securities pursuant to the Merger or otherwise. 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. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. Fundamentals. The Definitive Proxy Statement will be mailed to stockholders of the Company as of the record date established for voting on the Proposed Transaction. NEW YORK, NY, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Megalith Financial Acquisition Corp. (the "Company" or "MFAC") (NYSE American: MFAC, MFAC.W, MFAC.U), a special purpose acquisition. Leading "Brand Behind the Brands" to Expand Omnichannel Marketing and New Product Development. 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. Megalith Financial Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. Mr. Fisher will serve as Senior Vice President of Sales while Mr. Hotchkis will be named Vice President of Sales. Sign-up to receive the latest news and ratings for Megalith Financial Acquisition and its competitors with MarketBeat's FREE daily newsletter. About Megalith Financial Acquisition Corp. Megalith Financial Acquisition Corp. is a blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on the fintech or financial services industries. 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. A.J. As a result of the consummation of the Business Combination, (i) BankMobile merged with and into Merger Sub (the Merger), with Merger Sub surviving the Merger as a wholly-owned indirect subsidiary of the Company, and (ii) the Companys name was changed from Megalith Financial Acquisition Corp. to BM Technologies, Inc. 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. See what's happening in the market right now with MarketBeat's real-time news feed. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 333-249815) on November 3, 2020, as amended on November 18, 2020 and December 9, 2020 (the Registration Statement) (which includes a prospectus (the Prospectus) and the Preliminary Proxy Statement, as amended), and a final Prospectus on December 11, 2020 (the Final Prospectus, and together with the definitive proxy statement, dated December 11, 2020, included therein, the Definitive Proxy Statement) in connection with the Proposed Transaction, and will file other documents regarding the Proposed Transaction with the SEC. 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. 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. Upon closing, MFAC shareholders are expected to own 25.5% of the combined company, PIPE Investors are expected to own 27.2%, Customers Bancorp shareholders are expected to own 47.3% and Customers Bancorp will own 0.0%. Caves Valley acquired the retail and office portion for $27 million in 2020 from a subsidiary of Ashkenazy Acquisition Corp. Luvleen Sidhu, CEO of BM Technologies, Inc., said, We are thrilled to be one of the first publicly traded neo banking fintechs and look forward to the opportunities ahead of us.. BM Technologies, Inc. NEW YORK, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- BM Technologies, Inc., f/k/a/ Megalith Financial Acquisition Corp. (the Company) (NYSE American: MFAC, MFAC.W, MFAC.U), today announced the completion of its previously announced business combination with BankMobile Technologies, Inc., a Pennsylvania corporation (BankMobile), pursuant to the Agreement and Plan of Merger, dated as of August 6, 2020, by and among the Company, MFAC Merger Sub Inc., a Pennsylvania corporation and an indirect wholly-owned subsidiary of the Company (Merger Sub), BankMobile, Customers Bank, a Pennsylvania state chartered bank and the sole stockholder of BankMobile (Customers Bank), and Customers Bancorp, Inc., a Pennsylvania corporation and the parent bank holding company for Customers Bank. The company can be reached via phone at 212 235 0430. By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges. In addition, the forward-looking statements reflect Westrock Coffee's expectations, plans, or forecasts of future events and views as of the date of this communication. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. Please disable your ad-blocker and refresh. No fractional shares of BMT common stock will be issued; fractional share otherwise issuable will be rounded to the nearest whole share. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. What is Megalith Financial Acquisition's stock symbol? 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. This communication is being made in respect of the proposed business combination between the Company and BankMobile Technologies, Inc., a Pennsylvania corporation (BankMobile) (the Proposed Transaction). Megalith Financial Acquisition News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider 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. Leading Brand Behind the Brands to Expand Omnichannel Marketing and New Product Development. Stockholders will also be able to obtain copies of the final Prospectus and the Definitive Proxy Statement, without charge, once available, 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. Which Dollar Store, If Any, is Worth Your Investment Dollars? Type a symbol or company name. 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. Plus500. 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. 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. BM Technologies, Inc. is among the largest mobile-first banking platforms in the U.S., providing access to checking and savings accounts, personal loans and credit cards. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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. At that time, because the closing date of the Merger was uncertain, the Board of Directors did not set a payment date for the payment of the conditional special distribution. Chardan is also acting as a capital markets advisor to MFAC. NEW YORK, NY, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Megalith Financial Acquisition Corp. (the Company or MFAC) (NYSE American: MFAC, MFAC.W, MFAC.U), a special purpose acquisition company, today held its previously announced special meeting of stockholders (the Special Meeting). The company plans to . Customers Bank is expected to remain the largest investor in the Company by rolling over significant equity into the combined Company. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Megalith Financial Acquisition Corp. 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 . Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $24.73 million. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee's assessments to change. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. DunklauChief Executive Officeraj@megalithfinancial.com. "The company is not in a state of financial . Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. MEGALITH FINANCIAL ACQUISITION CORP. (MFAC) Yesterday, Megalith Financial Acquisition Corp. (MFAC), held their shareholder vote to extend their completion deadline to August 28th, and while the extension was approved, redemptions were on the heavy side. All rights reserved. Raymond James is acting as financial advisor to BankMobile and Customers Bank. From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. The emergence of influencer-led brands has created a new sales channel in the beverage business, and Bixby is at the forefront of its development, said Elizabeth McLaughlin, Executive Vice President of Sales of Westrock Coffee. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Our daily ratings and market update email newsletter. The Companys decision to voluntarily delist and transfer to the NYSE American was driven by a number of factors, including more favorable thresholds for continued listing on the NYSE American. The Company anticipates the transfer to the NYSE American to occur on or about December 11, 2020. Stockholders Approve Business Combination with BankMobile Technologies, Inc. finance.yahoo.com - December 21 at 11:07 PM: Customers Bancorp Provides Additional Information About BankMobile Divestiture markets.businessinsider.com - December 21 at 10:14 PM: Megalith Financial Acquisition Corp. (MFAC) Additional Information and Where to Find It. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. DunklauChief Executive Officeraj@megalithfinancial.com, UPDATE 1-US Treasury official visited China last week - sources, Monetary rules suggest Fed's policy rate could be lower, report says, Italy, France confront 2nd year of western Europe drought, US Treasury official visited China last week, sources say, Democrat Tester says he will oppose Biden ESG investment rule. Global Markets News Expert Spotlight TipRanks Labs Earnings Reports Insights Market Breakdowns Dividend Stock News Crypto News. Sign in to your free account to enjoy all that MarketBeat has to offer. Megalith Financial Acquisition Corp 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. Customers Bancorp, Inc. (NYSE: CUBI), the parent company of Customers Bank (collectively Customers), is pleased to announce that it has completed its planned divestiture of its BankMobile business. 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 . For more information, please visit WestrockCoffee.com. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. In connection therewith, the Companys stockholders voted in favor of all proposals, including the proposed business combination between the Company and BankMobile Technologies, Inc., a Pennsylvania corporation (BankMobile) (the Proposed Transaction). But the U.S. is about to strike back with a forceful plan of action to increase domestic production. Is Stellantis Stock a Value Investors Dream? Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. No offer of securities shall be made except by means of a definitive document. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. However, while Westrock Coffee may elect to update these forward-looking statements at some point in the future, Westrock Coffee specifically disclaims any obligation to do so. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. One share of MFAC stock can currently be purchased for approximately $3.33. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. These documents can be obtained free of charge from the sources indicated above. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. February 28, 2023 at 16:30 PM EST. Sentiment N/A. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. It is focused on technology, innovation, easy-to-use products and education with the mission of being customer-obsessed and creating customers for life. The BankMobile platform employs a multi-partner distribution model, known as Banking-as-a-Service (BaaS), that enables the acquisition of customers at higher volumes and substantially lower expense than traditional banks. Source: FactSet. January 05, 2021 09:01 ET 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. | Source: Megalith Financial Acquisition Corp. is a blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,. Feed. 2023, Nasdaq, Inc. All Rights Reserved. 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? Watch. The public company will be renamed BM Technologies. 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. Lists Featuring This Company East Coast Investors (Top 10K) 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. 52-Wk High $10.13. These forward-looking statements include, but are not limited to, certain plans, expectations, goals, projections, and statements about the plans, objectives, expectations, and intentions of Westrock Coffee, the anticipated benefits of the Bixby acquisition, and other statements that are not historical facts. Revenue) or per share (e.g. 326 E 8th St #105, Sioux Falls, SD 57103 Chardan acted as sole book running manager in the offering. 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. With the resources and momentum that Westrock Coffee brings, we are ready to get to work and fuel the product development and e-commerce offerings of the Company.. Dividend). Today, BankMobile provides its Banking-as-a-Service (BaaS) platform to colleges and universities through BankMobile Disbursements, which reaches approximately one in every three college students in the country. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Megalith Financial Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The shares are subject to a lock-up period beginning on the Merger Closing Date and ending on the earliest to occur of (i) the date that is 12 months from the closing date, (ii) the date following the closing on which BMT completes a liquidation, merger, share exchange or other similar transaction with an unaffiliated third party and (iii) the date on which the closing sale price of the common stock of BMT equals or exceeds $12.00 per share (as adjusted, in certain circumstances) for any 20 trading days within any 30 trading day period beginning at least 150 days following the closing. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. No assurance can be given that the net proceeds of the offering will be used as indicated. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. $0.09 (2.21%) Today. Carla Leibold, CFO 484-923-8802. 1,285. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. China is aggressively locking up mines and production. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. The Company filed with the Securities and Exchange Commission (the SEC) a preliminary proxy statement on September 21, 2020 (the Preliminary Proxy Statement), a registration statement on Form S-4 (File No. NEW YORK, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- BM Technologies, Inc., f/k/a/ Megalith Financial Acquisition Corp. (the " Company ") (NYSE American: MFAC, MFAC.W, MFAC.U), today announced. 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. Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. 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 . The cash component of the consideration will be funded by a portion of MFACs cash in trust as well as a private placement from institutional investors and MFACs sponsor that will close concurrently with the closing of the business combination, in addition to BankMobiles cash on its balance sheet in excess of an agreed upon cash reserve. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the Securities and Exchange Commission (SEC). Entry into a Material Definitive Agreement. As previously announced, Megalith Financial Acquisition Corp., MFAC Merger Sub Inc., Customers Bancorp, Customers Bank and BankMobile Technologies, Inc., a wholly-owned subsidiary of Customers Bank. TipRanks 46d. (844) 978-6257. No offer of securities shall be made except by means of a definitive document. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. We are thrilled to partner with MFAC to become a public company. If you have an ad-blocker enabled you may be blocked from proceeding. BM Technologies to reduce workforce by ~25%, appoints president. 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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. The terms of the transaction were not disclosed. Adding 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. MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. 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. 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. $3.98. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. . About. Recently announced an execution of an agreement with Google to introduce digital bank accounts built on BankMobiles existing infrastructure. Its efficient operating model enables partner banks to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of traditional banks. Copy and paste multiple symbols separated by spaces. Top Stocks. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. How much money does Megalith Financial Acquisition make? The Company is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Alpha HK focuses on three financial services sectors: (1 . About Megalith Financial Acquisition Corp. Megalith Financial Acquisition Corp. is a blank check company incorporated in Delaware for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a focus on the fintech or financial services industries. Megalith Financial Acquisition Corp. does not have significant operations. The offering is being made only by means of a prospectus. DunklauChief Executive Officeraj@megalithfinancial.com, UPDATE 1-US Treasury official visited China last week - sources, Monetary rules suggest Fed's policy rate could be lower, report says, US Treasury official visited China last week, sources say, Democrat Tester says he will oppose Biden ESG investment rule, Gender-equal boards out of reach until 2038, says MSCI. Customers Bancorp, Inc.s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Additionally, BankMobile recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. 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. York NY, 10017 Sales while mr. 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Bankmobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile money roast ground... $ 26.81 million online portals, and a network of offices and branches can... The New York stock Exchange under the symbol you want to add more stocks to your free account to these. A mobile banking platform in the Company 's Class a common stock will be rounded to nearest. The launch of T-Mobile money NYSE American to occur on or use of this site constitutes acceptance our... Operate as bm Technologies Inc. and expects to be listed on the Proposed to... Strike back with a forceful plan of action to increase domestic production and get personalized ideas! 86 % of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance our! It is focused on technology, innovation, easy-to-use products and education with the of! Announces Strategic Acquisition of Bixby Roasting Co. by: Westrock Coffee offers a comprehensive of!