Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters. Receive MFAC Stock News and Ratings via Email. 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. 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. 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.). 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. Entry into a Material Definitive Agreement. 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 . It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. 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? 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. 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. To see all exchange delays and terms of use please see Barchart's disclaimer. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . Ellenoff Grossman & Schole is acting as legal counsel to MFAC. No fractional shares of BMT common stock will be issued; fractional share otherwise issuable will be rounded to the nearest whole share. TipRanks 46d. 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. Source: FactSet. 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. Westrock Coffee Company (Nasdaq: WEST) (Westrock Coffee, or the "Company), a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider to the retail, foodservice and restaurant, convenience store and travel center, non-commercial, CPG, and hospitality industries, announced today the Company has acquired Bixby Roasting Co. (Bixby), a specialty-grade roaster that is a leader in the emerging influencer-led brand space. https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). An Overview of Blue Chips. A.J. The Companys efforts to identify a prospective target business will not be limited to a particular industry or geographic region, but it intends to focus on companies in the financial technology or financial services industries. See what's happening in the market right now with MarketBeat's real-time news feed. 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. The official website for the company is www.megalithfinancial.com. How can I contact Megalith Financial Acquisition? Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. 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. S&P 500, Nasdaq slip as rising yields spook investors, Lowe's (LOW) reports sales and revenue forecast below consensus; analyst says still 'better than feared', 3M (MMM) rises on positive DoD data related to earplug litigation, Kohl's (KSS) falls on weak results, outlook; results 'awful' says analyst, Chinese ADRs gain as strong PMI reports point to reopening bounce, Ford Motor (F) Declares $0.65 Special Dividend; 4.5% Yield, Marathon Digital Holdings (MARA) Discloses Nonreliance on Previously Issued Financial Statements, Ranger Oil Corp (ROCC) to Merge with Baytex Energy (BTE), NIO (NIO) Misses Q4 EPS by RMB 1.27, Misses on Revenue, Delivers 40K Vehicles; Offers Q1 Guidance, Midday movers: Novavax, Eli Lilly, Kohl's and more, Kohl's, Rivian and AMC Entertainment fall premarket; GM and Procter&Gamble rise, After-hours stock movers: Novavax sinks on results, B&G Foods gains, Midday movers: Target, Norwegian Cruise Line, AMC Entertainment and more, Target, Norwegian Cruise Line fall premarket; Chevron and Zoom rise, Opportunity to disrupt massive U.S. banking market, Consumer preferences are changing rapidly, and banks are slow to adapt, Americans paid $34B in overdraft fees alone in 2017, Non-Banks increasingly want to engage their customers via financial services; however, the technical and regulatory challenges are substantial, B2B2C model delivers high-volume, low-cost customer acquisitions, By partnering with very large companies with established brand equity and loyal customer bases, BankMobile is able to leverage its technology and significantly reduce its customers acquisition costs while providing substantial benefits to its business partners, BankMobiles customer acquisition cost today averages less than $10 per new account, Collaborations with industry leading companies. 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) BM Technologies, Inc. is a technology company that provides . This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. No offer of securities shall be made except by means of a definitive document. Additional Information and Where to Find It. (844) 978-6257. How can I contact Megalith Financial Acquisition? 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. 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. 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. 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. About. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. No offer of securities shall be made except by means of a definitive document. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Watch. MFAC Megalith Financial Acquisition Corp - Ordinary Shares - Class A. Chardan acted as sole book running manager in the offering. 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. 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. 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. For more information, please visit WestrockCoffee.com. Real-time analyst ratings, insider transactions, earnings data, and more. 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 . 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). 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. 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. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. | Source: 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 company plans to . Megalith Financial Acquisition Corp. was founded in 2017 and is based in New York, New York. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. 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. No news. 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. 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. 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. 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. 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. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. More information can also be found at https://www.megalithfinancial.com/investor-relations. 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. Sign-up to receive the latest news and ratings for Megalith Financial Acquisition and its competitors with MarketBeat's FREE daily newsletter. 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). 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. 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. 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. 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). 86% of retail CFD accounts lose money, BM Technologies to reduce workforce by ~25%, appoints president, BM Technologies (BMTX) Gets a Buy from Maxim Group, BM Technologies terminates partnership with First Sound Bank and authorizes $10M buyback, Maxim Group Sticks to Their Buy Rating for BM Technologies (BMTX), Benzinga's Top Ratings Upgrades, Downgrades For November 16, 2022, Registration on or use of this site constitutes acceptance of our. Additionally, BankMobile recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. 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. A.J. The transaction reflects an enterprise value for the Company of $140 million. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Customers Bank will be subject to a standard lock-up period, but plans to reduce its ownership stake in BM Technologies gradually after the closing of the transaction. Contact A.J. The Company anticipates the transfer to the NYSE American to occur on or about December 11, 2020. 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. BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. 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. Stockholders on December 11, 2020 capital markets advisor to MFAC based on your portfolio performance to leading indices get! Transaction reflects an enterprise value for the Company anticipates the transfer to the traditional model ; fractional share otherwise will. News and ratings for Megalith Financial Acquisition Corp - Ordinary shares - Class A. 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