Carla Leibold, CFO 484-923-8802. 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. 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. In-depth profiles and analysis for 20,000 public companies. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Chardan is also acting as a capital markets advisor to MFAC. 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. A.J. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. 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. 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. Customers Bancorp, Inc.s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. 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. 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. 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. 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. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Megalith Financial Acquisition Corp Registered Shs -A-, Plus500. 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. "The company is not in a state of financial . This communication is being made in respect of the Proposed Transaction. An Overview of Blue Chips. 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. 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. Watch. These documents can be obtained free of charge from the sources indicated above. . In addition, the forward-looking statements reflect Westrock Coffee's expectations, plans, or forecasts of future events and views as of the date of this communication. WEST READING, Pa.--(BUSINESS WIRE)-- Ellenoff Grossman & Schole LLP acted as counsel to the Company and Graubard Miller acted as counsel to the underwriters. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. 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. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. 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. 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. 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.. Leading "Brand Behind the Brands" to Expand Omnichannel Marketing and New Product Development. One share of MFAC stock can currently be purchased for approximately $3.33. At the closing of the transaction, MFAC will change its name to BM Technologies. 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. Additionally, BankMobile recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. Global Markets News Expert Spotlight TipRanks Labs Earnings Reports Insights Market Breakdowns Dividend Stock News Crypto News. Megalith Financial Acquisition Corp 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 units. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Pro forma net leverage of 4.2x based upon 2020E pro forma core EBITDA of $3.8M. Megalith Financial Acquisition Corp. Export data to Excel for your own analysis. 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. China is aggressively locking up mines and production. 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 . Latest News Lists & Leads . April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. 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. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. Additional Information and Where to Find It. FREE Breaking News Alerts from StreetInsider.com! The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. We are excited to welcome them to the Westrock Coffee team and look forward to integrating their talents and ideas into our portfolio.. 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. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. All rights reserved. 1,285. 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. 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. If you have an ad-blocker enabled you may be blocked from proceeding. MFAC Megalith Financial Acquisition Corp - Ordinary Shares - Class A. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. Silver Spike III Acquisition Corp. (NEO: "SPKC.U" and "SPKC.WT.U") (the "Corporation") is reporting its financial results as of December 31, 2022 and for the period from inception on March 22 . $3.98. 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. Listen to this article 2 min. 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. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. Megalith Financial Acquisition News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider 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. Watchers 1,285 52-Wk Low $4.31 52-Wk High $10.13. 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. 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,. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. Customers Bank is expected to remain the largest investor in the Company by rolling over significant equity into the combined Company. The offering is being made only by means of a prospectus. MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. Source: FactSet. The balance of the consideration will consist of shares of common stock in the combined Company, each to be valued at $10.38 per share. 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. Item 1.01. Megalith Financial Acquisition Corp. A.J. Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. 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. Feed. Fundamentals. 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. 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. Get short term trading ideas from the MarketBeat Idea Engine. 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. Mr. Fisher will serve as Senior Vice President of Sales while Mr. Hotchkis will be named Vice President of Sales. 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. Each unit consists of one share of the Company's Class A common stock and one warrant. Revenue) or per share (e.g. Entry into a Material Definitive Agreement. Volume (M) 634.00. * Average Estimates in Million (e.g. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. The company raised approximately $170 million through an IPO in August 2018. 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 was founded by Luvleen Sidhu in May 2016 and is headquartered in Wayne, PA. . Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. 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. Banking & Financial Services. The official website for the company is www.megalithfinancial.com. 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. The U.S. is dangerously lacking in critical minerals such as cobalt, lithium, and rare earths needed to maintain our national security. 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. These symbols will be available throughout the site during your session. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. 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. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. Adding 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. 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. 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. 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. More information can also be found at https://www.megalithfinancial.com/investor-relations. Feb 23, 2023. MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. 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. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. American Consumer News, LLC dba MarketBeat 2010-2023. This communication is being made in respect of the proposed business combination between the Company and BankMobile Technologies, Inc., a Pennsylvania corporation (BankMobile) (the Proposed Transaction). Top Stocks. 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. Megalith Financial Acquisition News More News Seeking Alpha 29d BM Technologies to reduce workforce by ~25%, appoints president TipRanks 56d BM Technologies (BMTX) Gets a Buy from Maxim. The transaction reflects an enterprise value for the Company of $140 million. 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. In addition to historical information, this press release may contain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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. 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). 326 E 8th St #105, Sioux Falls, SD 57103 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. 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. View which stocks are hot on social media with MarketBeat's trending stocks report. 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). 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. What is Megalith Financial Acquisition's stock price today? Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. What is Megalith Financial Acquisition's stock symbol? As a result of the consummation of the Business Combination, (i) BankMobile merged with and into Merger Sub (the Merger), with Merger Sub surviving the Merger as a wholly-owned indirect subsidiary of the Company, and (ii) the Companys name was changed from Megalith Financial Acquisition Corp. to BM Technologies, Inc. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . 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. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. 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. 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). 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. Merger Agreement This section describes the material provisions of the Merger Agreement but does not purport to. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. 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. 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. , SEC filings and insider transactions for your stocks also be found https... 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