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. Adding Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. Chardan acted as sole book running manager in the offering. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. No offer of securities shall be made except by means of a definitive document. 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. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of the management of Westrock Coffee as of the date hereof and are not predictions of actual performance. 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. 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. BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. The terms of the transaction were not disclosed. 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 . 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. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. Contact A.J. 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. 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. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. The company can be reached via phone at 212 235 0430. Dividend). Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. 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. 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. 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. The offering is being made only by means of a prospectus. 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. 52-Wk High $10.13. | Source: Plus500. TipRanks 46d. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. 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. Sign-up to receive the latest news and ratings for Megalith Financial Acquisition and its competitors with MarketBeat's FREE daily newsletter. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . 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. 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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. 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. 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. 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. 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. Upon closing of the Merger, Customers received cash consideration of $23.1 million and holders of Customers common stock who held their Customers shares as of the close of business on December 18, 2020 became entitled to receive an aggregate of 4,876,387 shares of BMT's common stock, representing approximately 41% of the outstanding common stock of BMT. 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. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. 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. Entry into a Material Definitive Agreement. contact@marketbeat.com Copy and paste multiple symbols separated by spaces. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Forward Looking Statements. How can I contact Megalith Financial Acquisition? Source: FactSet. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. 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. Get short term trading ideas from the MarketBeat Idea Engine. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. 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. The transaction reflects an enterprise value for the Company of $140 million. Identify stocks that meet your criteria using seven unique stock screeners. 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%. 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. $3.98. Bixby co-founders Miles Fisher and Remington Hotchkis, both of whom will be joining the Westrock Coffee senior management team, launched the company in 2017. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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. Westrock Coffee is a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the U.S., providing coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, foodservice and restaurant, convenience store and travel center, CPG, non-commercial, and hospitality industries around the world. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. Raymond James is acting as financial advisor to BankMobile and Customers Bank. ICR for Westrock Coffee: WestrockPR@icrinc.com, https://www.businesswire.com/news/home/20230228006199/en/. BM Technologies to reduce workforce by ~25%, appoints president. 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). Ellenoff Grossman & Schole is acting as legal counsel to MFAC. Receive MFAC Stock News and Ratings via Email. Sentiment N/A. Fundamentals. 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More information can also be found at https://www.megalithfinancial.com/investor-relations.
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