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. 1; Research Tools Sign in to your free account to enjoy all that MarketBeat has to offer. 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. The offering is being made only by means of a prospectus. 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. Is this happening to you frequently? About. Caves Valley acquired the retail and office portion for $27 million in 2020 from a subsidiary of Ashkenazy Acquisition Corp. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. At the closing of the transaction, MFAC will change its name to BM Technologies. 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. 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. 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 . https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). 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.. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. the Business Combination). If you have an ad-blocker enabled you may be blocked from proceeding. Richard Ehst, President & COO 610-917-3263 Accordingly, we believe that the opportunity to bring BankMobile to the public markets as a stand-alone company is highly attractive.. Source: FactSet. 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. 1,285. February 28, 2023 at 16:30 PM EST. | Source: 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. (844) 978-6257. Megalith Financial Acquisition Corp is a 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. 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. Sentiment N/A. Listen to this article 2 min. | Source: Additional Information and Where to Find It. 52-Wk Low $4.31. 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 began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. An audited balance sheet of the Company as of August 28, 2018 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the Securities and Exchange Commission. 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. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. 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. 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. Get daily stock ideas from top-performing Wall Street analysts. FREE Breaking News Alerts from StreetInsider.com! 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. 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,. 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. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. 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. BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. 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. 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 log in to your account or sign up in order to add this asset to your watchlist. 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. 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. 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. . Pursuant to the First Amendment, 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. Feed. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. TipRanks 46d. BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. 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. Additional Information and Where to Find It. 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. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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. On September 8, 2022, the Company announced that FTFT HK signed a Memorandum of Understanding with Alpha Financial to acquire Alpha HK. Merger Agreement This section describes the material provisions of the Merger Agreement but does not purport to. Chardan is also acting as a capital markets advisor to MFAC. 52-Wk High $10.13. 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. 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. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. 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 company is not in a state of financial . Type a symbol or company name. 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. 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. Jack in the Box Pops On Tasty Results, Robust Outlook, Wendys Price Firms After Sizzling Quarter And Juicy Outlook, Terran Orbitals New $2.4 Billion Contract is a Game Changer, From Betty Crocker to Blue Buffalo, General Mills Looks Strong, Cracker Barrel Stock: Range Bound, but High Yield For 2023, This Small Company Is Set To Drive Future Of Lithium Batteries, What Are Blue Chip Stocks? American Consumer News, LLC dba MarketBeat 2010-2023. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. What is Megalith Financial Acquisition's stock symbol? 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. Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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). ICR for Westrock Coffee: WestrockPR@icrinc.com, https://www.businesswire.com/news/home/20230228006199/en/. 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 release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. 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