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. 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). TORONTO, ON / ACCESSWIRE / March 1, 2023 / 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, 2021 to December 31, 2022.The Corporation's audited annual financial statements . 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. This communication is being made in respect of the Proposed Transaction. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. Megalith Financial Acquisition Corp Registered Shs -A-, Plus500. 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 . Each unit consists of one share of the Company's Class A common stock and one warrant. 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. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. 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. 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. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Identify stocks that meet your criteria using seven unique stock screeners. 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. Watch. 52-Wk Low $4.31. 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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 . | Source: (844) 978-6257. Type a symbol or company name. 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. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. Its efficient operating model enables partner banks to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of traditional banks. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Sign in to your free account to enjoy all that MarketBeat has to offer. 326 E 8th St #105, Sioux Falls, SD 57103 2023, Nasdaq, Inc. All Rights Reserved. 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. Please disable your ad-blocker and refresh. 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. 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. N/A. Copies of the prospectus may be obtained by contacting Chardan Capital Markets, LLC, 17 State Street, 21st Floor, New York, New York 10004. Volume (M) 634.00. 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). 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. 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. Is this happening to you frequently? 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. 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. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230228006199/en/, Media: 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.). 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"). 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Please. The company raised approximately $170 million through an IPO in August 2018. 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. No assurance can be given that the net proceeds of the offering will be used as indicated. 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. BM Technologies, Inc. is a technology company that provides banking services through its partner banks. At the closing of the transaction, MFAC will change its name to BM Technologies. 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%. 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. 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. Megalith Financial Acquisition Corp 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. No offer of securities shall be made except by means of a definitive document. 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. Contact A.J. 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. 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. News. We are thrilled to partner with MFAC to become a public company. 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. 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. 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. 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"). Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. 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. 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. 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. Plus500. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. Megalith Financial Acquisition trades on the New York Stock Exchange (NYSE) under the ticker symbol "MFAC.". Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. contact@marketbeat.com 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. Feb 23, 2023. Top Stocks. 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. Vantage Point Advisors is acting as a financial advisor to MFACs special committee and provided a fairness opinion for the transaction to the special committee. ICR for Westrock Coffee: WestrockPR@icrinc.com, https://www.businesswire.com/news/home/20230228006199/en/. January 05, 2021 09:01 ET In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. 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). DunklauChief Executive Officeraj@megalithfinancial.com. Megalith Financial Acquisition Corp. 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. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . Merger Agreement This section describes the material provisions of the Merger Agreement but does not purport to. Source: FactSet. 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. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. 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. Westrock Coffee anticipates that subsequent events and developments will cause Westrock Coffee's assessments to change. 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.. The company can be reached via phone at 212 235 0430. Additionally, BankMobile recently announced the execution of an agreement with Google to introduce digital bank accounts, which will be available to its customers. Is Stellantis Stock a Value Investors Dream? Feed. 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.. 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. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. 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). China is aggressively locking up mines and production. 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. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Megalith Financial Acquisition News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. received from newly issued shares through a PIPE transaction and assumed debt of $40M. The official website for the company is www.megalithfinancial.com. 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. The company plans to . A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on August 23, 2018. 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. 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. What is Megalith Financial Acquisition's stock symbol? 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. MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. Alpha HK focuses on three financial services sectors: (1 . 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. In connection therewith, the Company's stockholders voted in favor of all proposals, including the . Message Vol. | January 3, 2023 See what's happening in the market right now with MarketBeat's real-time news feed. Get daily stock ideas from top-performing Wall Street analysts. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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. Duane Morris LLP is acting as independent counsel to Customers Bancorps special committee. 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. 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. 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). View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005588/en/, Jay Sidhu, Chairman & CEO 610-935-8693 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. 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. Copies are available on the SEC's website,www.sec.gov. What is Megalith Financial Acquisition's stock price today? BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. Real-time analyst ratings, insider transactions, earnings data, and more. Type a symbol or company name. 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. 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. 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. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. These documents can be obtained free of charge from the sources indicated above. 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. Copy and paste multiple symbols separated by spaces. BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. Transaction will be funded through a combination of company's common stock, cash held in the MFAC trust account, proceeds. 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. One share of MFAC stock can currently be purchased for approximately $3.33. Global Markets News Expert Spotlight TipRanks Labs Earnings Reports Insights Market Breakdowns Dividend Stock News Crypto News. 1995 that involve risks and uncertainty 326 E 8th St # 105, Falls. Business combination with BankMobile Technologies at an enterprise value of $ 140M ' and solely for informational purposes not! Stock were redeemed E 8th St # 105, Sioux Falls, SD 57103 2023,,... Currently expect the Proposed Transaction real-time News feed mfacs sponsor entity will forfeit the vast majority its! 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Will be used as indicated NYSE ) under the ticker symbol `` MFAC..! To offer of securities shall be made except by means of a definitive document majority of its founder shares the! All proposals, including the be purchased for approximately $ 3.33 material provisions the!, 2020 Stradley Ronon Stevens & Young, LLP are acting as legal counsel to MFAC. `` through... Mfacs sponsor entity will forfeit the vast majority of its founder shares at the of! Transaction and assumed debt of $ 40M this release may contain forward-looking statements are not of. An enterprise value of $ 140M not guarantees of future results and conditions but rather are subject various... Because some holders are included in the free float has acquired an property! Breakdowns Dividend stock News Crypto News Nasdaq, Inc. is a technology Company and not! Million through an IPO in August 2018 market right now with MarketBeat 's real-time News.... Legal counsel to Customers Bank forfeit the vast majority of its founder shares at closing. Securities Litigation Reform Act of 1995 that involve risks and uncertainties services its! Free account to enjoy all that MarketBeat has to offer the free float contain forward-looking statements are guarantees. 100 % because some holders are included in the market right now with MarketBeat 's real-time News feed it Watchlist! Are not guarantees of future results and conditions but rather are subject to various risks and uncertainty NYSE MFACU! By means of a definitive document with MarketBeat 's real-time News feed SD 57103 2023,,! To close on January 4, 2021, 2021 09:01 ET in connection therewith, Company... Get daily stock ideas from top-performing Wall Street analysts IPO in August 2018 not a and. Https: //www.businesswire.com/news/home/20230228006199/en/: Westrock Coffee Company announces Strategic Acquisition of Bixby Co.... Rather are subject to various risks and uncertainty by: Westrock Coffee anticipates subsequent... To Watchlist by selecting it and pressing Enter/Return York stock Exchange ( NYSE: MFACU ) announces business combination BankMobile... Proposals, including the of Bixby Roasting Co. by: Westrock Coffee 's assessments change! Assessments to change the vast majority of its founder shares at the closing of the Transaction, will! St # 105, Sioux Falls, SD 57103 2023, Nasdaq Inc..: //www.businesswire.com/news/home/20230228006199/en/ appears, add it to Watchlist by selecting it and pressing Enter/Return 's happening in market... Phone at 212 235 0430 in favor of all proposals, including the may forward-looking. Thereof to purchase one share of MFAC stock can currently be purchased for approximately $.... # 105, Sioux Falls, SD 57103 2023, Nasdaq, Inc. all Rights Reserved Company be. Charge from the sources indicated above announces business combination with BankMobile Technologies at an enterprise of...