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. The business combination transaction reflects an enterprise value for the Company of approximately $140 million. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Forward Looking Statements. 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. Leading "Brand Behind the Brands" to Expand Omnichannel Marketing and New Product Development. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. Type a symbol or company name. 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. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005588/en/, Jay Sidhu, Chairman & CEO 610-935-8693 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. 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. ICR for Westrock Coffee: WestrockPR@icrinc.com, https://www.businesswire.com/news/home/20230228006199/en/. From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. All BMT serviced deposits and loans will remain at Customers Bank immediately after the closing of the transaction. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. 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. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. 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. The Company's units began trading on the New York Stock Exchange under the ticker symbol MFAC.U on August 24, 2018. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. Chardan is also acting as a capital markets advisor to MFAC. 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 see all exchange delays and terms of use please see Barchart's disclaimer. See what's happening in the market right now with MarketBeat's real-time news feed. For more information, please visit WestrockCoffee.com. Sign in to your free account to enjoy all that MarketBeat has to offer. 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. View which stocks are hot on social media with MarketBeat's trending stocks report. Duane Morris LLP is acting as independent counsel to Customers Bancorps special committee. 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"). To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. What is Megalith Financial Acquisition's stock price today? Identify stocks that meet your criteria using seven unique stock screeners. The official website for the company is www.megalithfinancial.com. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Merger Agreement This section describes the material provisions of the Merger Agreement but does not purport to. 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. 52-Wk Low $4.31. Watch. 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. Global Markets News Expert Spotlight TipRanks Labs Earnings Reports Insights Market Breakdowns Dividend Stock News Crypto News. Please disable your ad-blocker and refresh. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Top Stocks. Item 1.01. Adding 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. 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 terms of the transaction were not disclosed. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. 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. In-depth profiles and analysis for 20,000 public companies. This communication is being made in respect of the Proposed Transaction. No news. This communication is being made in respect of the Proposed Transaction. 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. 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. The Company expects that its common stock and public warrants will begin to trade on the NYSE American LLC under the ticker symbols BMTX and BMTX.W, respectively, on or about January 6, 2021. 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. Get daily stock ideas from top-performing Wall Street analysts. 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. 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.. 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. BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. Accordingly, we believe that the opportunity to bring BankMobile to the public markets as a stand-alone company is highly attractive.. 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. Named Most Innovative Bank by LendIt in 2019, BankMobiles B2B2C Go-To-Market-Strategy leverages a multi-partner distribution model to generate high volume, low cost, customer acquisitions. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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. The company was founded by Luvleen Sidhu in May 2016 and is headquartered in Wayne, PA. . American Consumer News, LLC dba MarketBeat 2010-2023. Dividend). 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 . Latest News Lists & Leads . 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. Lists Featuring This Company East Coast Investors (Top 10K) . 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. MFAC Megalith Financial Acquisition Corp - Ordinary Shares - Class A. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. 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. Watchers 1,285 52-Wk Low $4.31 52-Wk High $10.13. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. Banking & Financial Services. Transaction will be funded through a combination of company's common stock, cash held in the MFAC trust account, proceeds. No offer of securities shall be made except by means of a definitive document. 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. Our daily ratings and market update email newsletter. 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. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. . Feed. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. Your free account to enjoy these benefits U. S. that provides Access to checking and savings accounts, loans... Customers Bancorps special committee and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 American! Accelerate longevity-tech solutions into more than 130 million American lives by 2030 30 Days of MarketBeat all Access free Sign! - Class A. 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