megalith financial acquisition corp news

Megalith Financial Acquisition Corp. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. Megalith Financial Acquisition Corp Registered Shs -A-, Plus500. The Board of Directors has now declared that the payment date for the conditional special dividend is January 4, 2021. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. 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. 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. It is focused on technology, innovation, easy-to-use products and education with the mission of being customer-obsessed and creating customers for life. The BankMobile platform employs a multi-partner distribution model, known as Banking-as-a-Service (BaaS), that enables the acquisition of customers at higher volumes and substantially lower expense than traditional banks. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. . 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. 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). 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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. 1,285. Receive MFAC Stock News and Ratings via Email. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. Copies are available on the SEC's website,www.sec.gov. 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. 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. 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. Pursuant to the First Amendment, Merger Agreement This section describes the material provisions of the Merger Agreement but does not purport to. 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. 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 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. 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. MFAC Megalith Financial Acquisition Corp - Ordinary Shares - Class A. The company plans to . 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. 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. Stockholders Approve Business Combination with BankMobile Technologies, Inc. finance.yahoo.com - December 21 at 11:07 PM: Customers Bancorp Provides Additional Information About BankMobile Divestiture markets.businessinsider.com - December 21 at 10:14 PM: Megalith Financial Acquisition Corp. (MFAC) BM Technologies, Inc. is a technology company that provides banking services through its partner banks. 326 E 8th St #105, Sioux Falls, SD 57103 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. The transaction reflects an enterprise value for the Company of $140 million. This communication is being made in respect of the Proposed Transaction. See what's happening in the market right now with MarketBeat's real-time news feed. Forward Looking Statements. Fundamentals. 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). Type a symbol or company name. 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. 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. 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. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. 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. 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. Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. Recently announced an execution of an agreement with Google to introduce digital bank accounts built on BankMobiles existing infrastructure. 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. Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. Volume (M) 634.00. Richard Ehst, President & COO 610-917-3263 . More information can also be found at https://www.megalithfinancial.com/investor-relations. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the Securities and Exchange Commission (SEC). Please. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. No offer of securities shall be made except by means of a definitive document. 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