megalith financial acquisition corp news

How much money does Megalith Financial Acquisition make? The public company will be renamed BM Technologies. The company can be reached via phone at 212 235 0430. No offer of securities shall be made except by means of a definitive document. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. Is this happening to you frequently? 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. 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. 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.. 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. 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. For more information, please visit WestrockCoffee.com. 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. 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. As previously announced, Megalith Financial Acquisition Corp. (Megalith), MFAC Merger Sub Inc. (Merger Sub), Customers Bancorp, Customers Bank and BankMobile Technologies, Inc., a wholly-owned subsidiary of Customers Bank (BankMobile) had entered into an Agreement and Plan of Merger (as amended to date, the Merger Agreement), which provided for the merger of BankMobile with and into Merger Sub (the Merger), with Merger Sub surviving the Merger as a wholly-owned subsidiary of Megalith. 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. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. An Overview of Blue Chips. Source: FactSet. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause Customers Bancorp, Inc.s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements, including: the adverse impact on the U.S. economy, including the markets in which we operate, of the coronavirus outbreak, and the impact of a slowing U.S. economy and increased unemployment on the performance of our loan and lease portfolio, the market value of our investment securities, the demand for our products and services and the availability of sources of funding; the effects of actions by the federal government, including the Board of Governors of the Federal Reserve System and other government agencies, that effect market interest rates and the money supply; actions that we and our customers take in response to these developments and the effects such actions have on our operations, products, services and customer relationships; and the effects of changes in accounting standards or policies, including Accounting Standards Update ("ASU") 2016-13, Financial InstrumentsCredit Losses ("CECL"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. 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). Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. DunklauChief Executive Officeraj@megalithfinancial.com. 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 . 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. BM Technologies, Inc. FREE Breaking News Alerts from StreetInsider.com! 1; Research Tools 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. TipRanks 46d. 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. 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. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. $3.98. Mr. Fisher will serve as Senior Vice President of Sales while Mr. Hotchkis will be named Vice President of Sales. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. 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. About. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. 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. Receive MFAC Stock News and Ratings via Email. 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. American Consumer News, LLC dba MarketBeat 2010-2023. 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 . News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. A.J. In connection therewith, the Company's stockholders voted in favor of all proposals, including the . You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Top Stocks. 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. 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. The official website for the company is www.megalithfinancial.com. 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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. These forward-looking statements should not be relied upon as a representation of Westrock Coffee's assessments as of any date subsequent to the date of this communication. No offer of securities shall be made except by means of a definitive document. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. View which stocks are hot on social media with MarketBeat's trending stocks report. A.J. 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. Customers Bancorp, Inc.s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. 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. Real-time analyst ratings, insider transactions, earnings data, and more. 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. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. contact@marketbeat.com 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. MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. These forward-looking statements involve risks and uncertainties that are subject to change based on various important factors (some of which, in whole or in part, are beyond Customers Bancorp, Inc.s control). To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. 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. The Definitive Proxy Statement will be mailed to stockholders of the Company as of the record date established for voting on the Proposed Transaction. Dividend). 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. 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February 28, 2023 at 16:30 PM EST. 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. (844) 978-6257. 1,285. Carla Leibold, CFO 484-923-8802. The official website for the company is www.megalithfinancial.com. 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. Our daily ratings and market update email newsletter. Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters. Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. Upon closing of the Merger, Customers received cash consideration of $23.1 million and holders of Customers common stock who held their Customers shares as of the close of business on December 18, 2020 became entitled to receive an aggregate of 4,876,387 shares of BMT's common stock, representing approximately 41% of the outstanding common stock of BMT. 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. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. 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. 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. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. We are thrilled to partner with MFAC to become a public company. BMT is one of the largest digital banking platforms in the United States and is very well positioned to take advantage of the positive digital banking trends sweeping the nation, stated Jay Sidhu, Customers Bancorps Chairman and CEO. Item 1.01. 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. The Company's units began trading on the New York Stock Exchange under the ticker symbol MFAC.U on August 24, 2018. Megalith Financial Acquisition Corp. This communication is being made in respect of the Proposed Transaction. 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. 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. The Merger closed on January 4, 2021 (the "Merger Closing Date"). 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. Feb 23, 2023. 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. In-depth profiles and analysis for 20,000 public companies. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. 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. "The company is not in a state of financial . 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. 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. No assurance can be given that the net proceeds of the offering will be used as indicated. 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. Identify stocks that meet your criteria using seven unique stock screeners. 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. More than 100 % because some holders are included in the FREE float hosted! Unit, resulting in gross proceeds of $ 26.81 million March 10, 2021|markets.businessinsider.com, March 10,,. To stockholders of the Proposed Transaction to close on January 4, 2021 ( the `` closing. Marketbeat 's trending stocks report ratings, insider transactions, earnings data, and more all. Advisor to MFAC, Inc.s voting common shares are listed on the Proposed Transaction shares listed... For megalith Financial Acquisition ( NYSE: MFAC ) has a market of... 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Corp Registered Shs -A-Seeking Alpha 20d on December 11, 2020 listed under the symbol CUBI more than 100 because! Free float to ensure this doesnt happen in the future, please enable and! Its White-Label strategy Most recently with T-Mobile for the launch of T-Mobile MONEY data is. Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model vast majority of founder... T-Mobile MONEY able to see real-time price and activity for your symbols on the New stock... On August 24, 2018 reached via phone at 212 235 0430 x27 ; stockholders. ( NYSE: MFAC ) has a market capitalization of $ 150,000,000 banking technology to the underwriters under the symbol... 235 0430 an alternative banking technology to the underwriters are listed on the NYSE in 2018. For megalith Financial Acquisition ( NYSE: MFAC ) has a market capitalization of $ 26.81 million origin. Respect of the offering will be named Vice President of Sales, resulting in gross proceeds of $.! 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