BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 326 E 8th St #105, Sioux Falls, SD 57103 In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. 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. Chardan acted as sole book running manager in the offering. 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. Recently announced an execution of an agreement with Google to introduce digital bank accounts built on BankMobiles existing infrastructure. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. Please. 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BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! Plus500. It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. 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. These documents can be obtained free of charge from the sources indicated above. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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? 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. 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. Our daily ratings and market update email newsletter. Megalith Financial Acquisition Corp. in a filing today amended its merger agreement with BankMobile Technologies involving BankMobile's parent company, Customers Bank.The original agreement provided that a portion of the consideration payable to Customers Bank was to be paid in shares of the Company's Class A common stock to Customers Bank. The special committees of each party reviewed this transaction and made unanimous recommendations to their respective boards of directors for approval. 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. 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,. 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. Banking & Financial Services. 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 not guarantees of future results and conditions but rather are subject to various risks and uncertainties. No assurance can be given that the net proceeds of the offering will be used as indicated. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. American Consumer News, LLC dba MarketBeat 2010-2023. 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. We are thrilled to partner with MFAC to become a public company. 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. Is this happening to you frequently? 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. TipRanks 46d. This communication is being made in respect of the Proposed Transaction. 52-Wk High $10.13. 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. Following the transfer, the Company will continue to file the same periodic reports and other information it currently files with the Securities and Exchange Commission (the SEC). These symbols will be available throughout the site during your session. 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. 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. Each unit consists of one share of the Company's Class A common stock and one warrant. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. The company can be reached via phone at 212 235 0430. Pursuant to the First Amendment, 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). 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. 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. Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. View which stocks are hot on social media with MarketBeat's trending stocks report. Caves Valley acquired the retail and office portion for $27 million in 2020 from a subsidiary of Ashkenazy Acquisition Corp. 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. 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. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. The acquisition, which includes Bixbys roasting facility in Los Angeles, CA, will continue to expand Westrock Coffees omnichannel product marketing and development resources as it capitalizes on shifting consumer consumption trends. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. 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. Export data to Excel for your own analysis. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Sentiment N/A. 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. BM Technologies to reduce workforce by ~25%, appoints president. Richard Ehst, President & COO 610-917-3263 How much money does Megalith Financial Acquisition make? 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. Lists Featuring This Company East Coast Investors (Top 10K) Top Stocks. 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. BM Technologies, Inc. is a technology company that provides banking services through its partner banks. 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. 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. https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). "The company is not in a state of financial . This communication is being made in respect of the Proposed Transaction. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The official website for the company is www.megalithfinancial.com. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. A.J. MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. At the closing of the transaction, MFAC will change its name to BM Technologies. No fractional shares of BMT common stock will be issued; fractional share otherwise issuable will be rounded to the nearest whole share. Copies of the prospectus may be obtained by contacting Chardan Capital Markets, LLC, 17 State Street, 21st Floor, New York, New York 10004. 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 Megalith Financial Acquisition Corp - Ordinary Shares - Class A. Customers Bancorp, Inc.s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. 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. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. 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 focuses on companies in the financial services industry or businesses providing technological services to the financial industry. 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. 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. the Business Combination). Raymond James is acting as financial advisor to BankMobile and Customers Bank. 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 . Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. 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. 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. Type a symbol or company name. 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. 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. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. 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