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. Copy and paste multiple symbols separated by spaces. What is Megalith Financial Acquisition's stock symbol? Fundamentals. Boenning and Scattergood is acting as financial advisor to Customers Bancorps special committee and provided a fairness opinion for the transaction to the special committee. 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. 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. We are delighted to welcome Miles and Remington to the Westrock Coffee team, their collective insight in sales, product development, and operational execution will be invaluable to our expanding list of premium customers, said Scott Ford, Chief Executive Officer and Co-founder of Westrock Coffee. All BMT serviced deposits and loans will remain at Customers Bank immediately after the closing of the transaction. It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. 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. MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse These statements are based on information available to Westrock Coffee as of the date hereof, and Westrock Coffee is not under any duty to update any of the forward-looking statements after the date of this communication to conform these statements to actual results. 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 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. 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,. The Company anticipates the transfer to the NYSE American to occur on or about December 11, 2020. At the closing of the transaction, MFAC will change its name to BM Technologies. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. 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). In connection therewith, the Company's stockholders voted in favor of all proposals, including the . 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. 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. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. 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. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 52-Wk High $10.13. BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. Megalith Financial Acquisition Corp. View which stocks are hot on social media with MarketBeat's trending stocks report. Additional Information and Where to Find It. We believe that BankMobiles approach to collaborate with distribution partners and partner banks, positions it well to continue to grow as an increasing number of non-banks are looking to offer financial services to their existing customers. 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. Find the latest Megalith Financial Acquisition Corp, MFAC stock market data. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. BM Technologies to reduce workforce by ~25%, appoints president. Contact A.J. 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. Please log in to your account or sign up in order to add this asset to your watchlist. Once the securities comprising the units begin separate trading, the common stock and warrants are expected to be listed on the New York Stock Exchange under the ticker symbols MFAC and MFAC.W, respectively. The business combination transaction reflects an enterprise value for the Company of approximately $140 million. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. We are excited to welcome them to the Westrock Coffee team and look forward to integrating their talents and ideas into our portfolio.. Export data to Excel for your own analysis. 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. 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? These forward-looking statements include statements with respect to Customers Bancorp, Inc.s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Real-time analyst ratings, insider transactions, earnings data, and more. Dividend). 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). Before making any voting or investment decision, investors and stockholders of the Company are urged to carefully read the Registration Statement, the Preliminary Proxy Statement and, when they become available, the final Prospectus, 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. Megalith Financial Acquisition Corp. 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 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. Megalith Financial Acquisition Corp. No offer of securities shall be made except by means of a definitive document. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Feed. The company's operating model enables partner banks to provide banking services to low and middle-income Americans who have been left behind by the fee model of traditional banks. 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. 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. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee's business and the timing of expected business milestones; the effects of competition on Westrock Coffee's business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain debt financing in the future; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or has difficulty successfully integrating acquired companies; the availability of equipment and the timely performance by suppliers involved with the build-out of the Conway, Arkansas manufacturing facility and distribution center; the loss of significant customers; and those factors discussed in Westrock Coffees registration statement on Form S-1, which was deemed effective by the United States Securities and Exchange Commission (the SEC) on December 21, 2022, under the heading Risk Factors, and other documents Westrock Coffee has filed, or will file, with the SEC. On September 8, 2022, the Company announced that FTFT HK signed a Memorandum of Understanding with Alpha Financial to acquire Alpha HK. received from newly issued shares through a PIPE transaction and assumed debt of $40M. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. 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. The company raised approximately $170 million through an IPO in August 2018. 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.. 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. After the SEC has concluded its comments with respect to the Registration Statement, the Company will mail the definitive proxy statement (the Definitive Proxy Statement) to its stockholders. Bixby co-founders Miles Fisher and Remington Hotchkis, both of whom will be joining the Westrock Coffee senior management team, launched the company in 2017. An audited balance sheet of the Company as of August 28, 2018 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. Did you know each EV battery contains up to 220 pounds of graphite and China controls more than 90% of the world's graphite trade? 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. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. Additional Information and Where to Find It. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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, 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. December 21, 2020 21:42 ET The company was founded by Luvleen Sidhu in May 2016 and is headquartered in Wayne, PA. . Our daily ratings and market update email newsletter. $0.09 (2.21%) Today. The disclosure herein is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Proposed Transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of MFAC, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Entry into a Material Definitive Agreement. 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. 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. Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. Recently announced an execution of an agreement with Google to introduce digital bank accounts built on BankMobiles existing infrastructure. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. . How can I contact Megalith Financial Acquisition? The disclosure herein is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the Business Combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Customers Bancorp, Inc. cautions that the foregoing factors are not exclusive, and neither such factors nor any such forward-looking statement takes into account the impact of any future events. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. Megalith Financial Acquisition Corp Registered Shs -A-, Plus500. An Overview of Blue Chips. The terms of the transaction were not disclosed. Megalith Financial Acquisition Corp. does not have significant operations. BM Technologies, Inc. is a technology company that provides . 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. 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. 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. 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. 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. Many actual events and circumstances are beyond the control of Westrock Coffee. 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. 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. Feb 23, 2023. Leading Brand Behind the Brands to Expand Omnichannel Marketing and New Product Development. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee's assessments to change. . 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. 52-Wk Low $4.31. Accordingly, we believe that the opportunity to bring BankMobile to the public markets as a stand-alone company is highly attractive.. Get a full understanding of how Megalith Financial Acquisition Corp is performing with stock quotes and prices, as well . 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. "The company is not in a state of financial . A.J. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. 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. Transaction will be funded through a combination of company's common stock, cash held in the MFAC trust account, proceeds. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $24.73 million. 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. 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. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. Westrock Coffee is the beverage industrys brand behind the brands, supplying the worlds most recognized brands with the worlds most transformative coffee, tea, flavors, extracts, and ingredients products. Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. 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.. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. Which Dollar Store, If Any, is Worth Your Investment Dollars? . Is this happening to you frequently? Megalith Financial Acquisition Corp 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. Revenue) or per share (e.g. Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. 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. Dunklau, CEO of MFAC said, There has been rapid growth of digital banking platforms, or neobanks, as many customers search for less burdensome access to banking services. Stockholders Approve Business Combination with BankMobile Technologies, Inc. Customers Bancorp Provides Additional Information About BankMobile Divestiture, Megalith Financial Acquisition Corp. (MFAC), Megalith Financial Acquisition Corp. Cl A, Megalith Financial Acquisition Corp. Partnership with T-Mobile in offering T-Mobile MONEY, Highly attractive distribution channel through market leading position in higher education reaches one in every three college students, BankMobile provides its Banking-as-a-Service (BaaS) to colleges and universities through its BankMobile Disbursements business, which reaches more than five million students on 722 campuses nationwide, Unique offering delivers a full-service digital banking platform, connecting customers with a partner bank, In addition to its omni-channel digital banking apps delivered on a modern technology platform, BankMobile provides full-service banking support and access to a bank partner, The full-service digital banking platform includes back-office support, state of the art mobile-first onboarding systems, deposit operations, fraud management, and customer care, Enterprise Value of $140 million at only 1.3x 2021E Revenues and 1.0x 2022E Revenues, Highly experienced and recognized management team and board, Executive management team averages 24 years of industry experience, CEO, Luvleen Sidhu, graduate of Harvard University and Wharton School and recognized as 2019 Fintech Woman of the Year by LendIt Fintech, Very experienced board of independent directors expected to be named shortly. 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. 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). Statements preceded by, followed by, or that include the words may, could, should, pro forma, looking forward, would, believe, expect, anticipate, estimate, intend, plan, or similar expressions generally indicate a forward-looking statement. 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. Is Stellantis Stock a Value Investors Dream? 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. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. 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 . 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. 1,285. A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium-sized businesses, professionals, individuals and families. 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 company, announced today that they have entered into a definitive merger agreement. Westrock Coffee is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, foodservice and restaurant, convenience store and travel center, CPG, non-commercial, and hospitality industries around the world.
Alex Guarnaschelli Necklace,
Wellesley College Endowment,
Billy T James Pepeha,
Police Incident In Walthamstow Today,
Louisiana Basketball Team,
Articles M
