One share of MFAC stock can currently be purchased for approximately $3.33. 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. 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. 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.). Fundamentals. Latest News Lists & Leads . BM Technologies, Inc. is a technology company that provides banking services through its partner banks. . If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. News. 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. Feb 23, 2023. Source: FactSet. 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. 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. Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. The official website for the company is www.megalithfinancial.com. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Upon the closing of the transaction, BM Technologies will be a financial technology company bringing banks and business partners together through its digital banking platform.With over 2 million accounts, BankMobile Technology, Inc. (BMT or BankMobile) is one of the largest digital banking platforms in the country. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. 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. 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.. 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. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on August 23, 2018. How can I contact Megalith Financial Acquisition? Plus500. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. 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). Get short term trading ideas from the MarketBeat Idea Engine. Upon closing, MFAC shareholders are expected to own 25.5% of the combined company, PIPE Investors are expected to own 27.2%, Customers Bancorp shareholders are expected to own 47.3% and Customers Bancorp will own 0.0%. 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. 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. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. 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. | Source: 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Megalith Financial Acquisition Corp. 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. 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. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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. This press release contains statements that constitute forward-looking statements, including with respect to the anticipated use of the net proceeds. Copies are available on the SEC's website,www.sec.gov. . What is Megalith Financial Acquisition's stock symbol? When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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 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. Contact A.J. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. Type a symbol or company name. No offer of securities shall be made except by means of a definitive document. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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). To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Entry into a Material Definitive Agreement. Additional Information and Where to Find It. Megalith Financial Acquisition Corp. was founded in 2017 and is based in New York, New York. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. No offer of securities shall be made except by means of a definitive document. 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"). Export data to Excel for your own analysis. Before making any voting or investment decision, investors and stockholders of the Company are urged to carefully read the Registration Statement, the Preliminary Proxy Statement and, when they become available, the final Prospectus, 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. 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. 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. China is aggressively locking up mines and production. 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). 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. Alpha HK focuses on three financial services sectors: (1 . 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. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. 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. Richard Ehst, President & COO 610-917-3263 View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005588/en/, Jay Sidhu, Chairman & CEO 610-935-8693 MFAC Megalith Financial Acquisition Corp - Ordinary Shares - Class A. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. 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. 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. American Consumer News, LLC dba MarketBeat 2010-2023. If you have an ad-blocker enabled you may be blocked from proceeding. Is Stellantis Stock a Value Investors Dream? (844) 978-6257. Identify stocks that meet your criteria using seven unique stock screeners. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. 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 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. 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. 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. 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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. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Megalith Financial Acquisition News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider . Chardan is also acting as a capital markets advisor to MFAC. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. Pursuant to the First Amendment, 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. What is Megalith Financial Acquisition's stock price today? 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). 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. 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. 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. 52-Wk Low $4.31. 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. December 21, 2020 21:42 ET Banking & Financial Services. As previously announced, Megalith Financial Acquisition Corp., MFAC Merger Sub Inc., Customers Bancorp, Customers Bank and BankMobile Technologies, Inc., a wholly-owned subsidiary of Customers Bank. Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. How much money does Megalith Financial Acquisition make? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. * Average Estimates in Million (e.g. BM Technologies, Inc. NEW YORK, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- BM Technologies, Inc., f/k/a/ Megalith Financial Acquisition Corp. (the Company) (NYSE American: MFAC, MFAC.W, MFAC.U), today announced the completion of its previously announced business combination with BankMobile Technologies, Inc., a Pennsylvania corporation (BankMobile), pursuant to the Agreement and Plan of Merger, dated as of August 6, 2020, by and among the Company, MFAC Merger Sub Inc., a Pennsylvania corporation and an indirect wholly-owned subsidiary of the Company (Merger Sub), BankMobile, Customers Bank, a Pennsylvania state chartered bank and the sole stockholder of BankMobile (Customers Bank), and Customers Bancorp, Inc., a Pennsylvania corporation and the parent bank holding company for Customers Bank. 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. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. The company plans to . To see all exchange delays and terms of use please see Barchart's disclaimer. Volume (M) 634.00. N/A. Duane Morris LLP is acting as independent counsel to Customers Bancorps special committee. On September 8, 2022, the Company announced that FTFT HK signed a Memorandum of Understanding with Alpha Financial to acquire Alpha HK. DunklauChief Executive Officeraj@megalithfinancial.com. Create your Watchlist to save your favorite quotes on Nasdaq.com. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. 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 . MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse The company can be reached via phone at 212 235 0430. 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. Mr. Fisher will serve as Senior Vice President of Sales while Mr. Hotchkis will be named Vice President of Sales. 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. Feed. 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. 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. Stock screeners available on the SEC 's website, www.sec.gov terms of use please see Barchart 's.... Upgrade to megalith financial acquisition corp news Daily Premium to add more stocks to your Watchlist to save favorite...: 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart.. Securities Litigation Reform Act of 1995 that involve risks and uncertainty to My Quotes selecting. 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