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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. FREE Breaking News Alerts from StreetInsider.com! A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on August 23, 2018. 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. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company plans to . 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. Customers Bank is expected to remain the largest investor in the Company by rolling over significant equity into the combined Company. Revenue) or per share (e.g. The Merger closed on January 4, 2021 (the "Merger Closing Date"). An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. 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. Real-time analyst ratings, insider transactions, earnings data, and more. All rights reserved. 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. Source: FactSet. Type a symbol or company name. 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. This communication is being made in respect of the Proposed Transaction. News. The Company's units began trading on the New York Stock Exchange under the ticker symbol MFAC.U on August 24, 2018. 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). 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 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. Richard Ehst, President & COO 610-917-3263 One share of MFAC stock can currently be purchased for approximately $3.33. We are thrilled to partner with MFAC to become a public company. BM Technologies to reduce workforce by ~25%, appoints president. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Dividend). 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. 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Carla Leibold, CFO 484-923-8802. Sentiment N/A. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. 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. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. 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. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. American Consumer News, LLC dba MarketBeat 2010-2023. In connection therewith, the Company's stockholders voted in favor of all proposals, including the . Entry into a Material Definitive Agreement. 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). 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. 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? 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. 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. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. 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. 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). Accordingly, undue reliance should not be placed upon the forward-looking statements. Feb 23, 2023. 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. Receive MFAC Stock News and Ratings via Email. Find the latest Megalith Financial Acquisition Corp, MFAC stock market data. The official website for the company is www.megalithfinancial.com. It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. 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. Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. What is Megalith Financial Acquisition's stock symbol? Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. 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. 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%. At the closing of the transaction, MFAC will change its name to BM Technologies. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Did you know each EV battery contains up to 220 pounds of graphite and China controls more than 90% of the world's graphite trade? Feed. 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. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. No offer of securities shall be made except by means of a definitive document. 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. A.J. 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.). With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. In-depth profiles and analysis for 20,000 public companies. 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