Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. No fractional shares of BMT common stock will be issued; fractional share otherwise issuable will be rounded to the nearest whole share. 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. From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Entry into a Material Definitive Agreement. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. . It offers a mobile banking platform in the U. S. that provides access to checking and savings accounts, personal loans and credit cards. 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. Copy and paste multiple symbols separated by spaces. In-depth profiles and analysis for 20,000 public companies. A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission on August 23, 2018. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Forward Looking Statements. China is aggressively locking up mines and production. S&P 500, Nasdaq slip as rising yields spook investors, Lowe's (LOW) reports sales and revenue forecast below consensus; analyst says still 'better than feared', 3M (MMM) rises on positive DoD data related to earplug litigation, Kohl's (KSS) falls on weak results, outlook; results 'awful' says analyst, Chinese ADRs gain as strong PMI reports point to reopening bounce, Ford Motor (F) Declares $0.65 Special Dividend; 4.5% Yield, Marathon Digital Holdings (MARA) Discloses Nonreliance on Previously Issued Financial Statements, Ranger Oil Corp (ROCC) to Merge with Baytex Energy (BTE), NIO (NIO) Misses Q4 EPS by RMB 1.27, Misses on Revenue, Delivers 40K Vehicles; Offers Q1 Guidance, Midday movers: Novavax, Eli Lilly, Kohl's and more, Kohl's, Rivian and AMC Entertainment fall premarket; GM and Procter&Gamble rise, After-hours stock movers: Novavax sinks on results, B&G Foods gains, Midday movers: Target, Norwegian Cruise Line, AMC Entertainment and more, Target, Norwegian Cruise Line fall premarket; Chevron and Zoom rise, Opportunity to disrupt massive U.S. banking market, Consumer preferences are changing rapidly, and banks are slow to adapt, Americans paid $34B in overdraft fees alone in 2017, Non-Banks increasingly want to engage their customers via financial services; however, the technical and regulatory challenges are substantial, B2B2C model delivers high-volume, low-cost customer acquisitions, By partnering with very large companies with established brand equity and loyal customer bases, BankMobile is able to leverage its technology and significantly reduce its customers acquisition costs while providing substantial benefits to its business partners, BankMobiles customer acquisition cost today averages less than $10 per new account, Collaborations with industry leading companies. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. | January 3, 2023 Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of warrants, $151,500,000 (or $10.10 per unit sold in the public offering) was placed in trust. 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). Real-time analyst ratings, insider transactions, earnings data, and more. We are delighted to be able to distribute stock to CUBI shareholders in a fast-growing fintech company that was incubated in Customers Bancorp that has and is expected to continue to provide significant shareholder return. All rights reserved. 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. 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. See what's happening in the market right now with MarketBeat's real-time news feed. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. No offer of securities shall be made except by means of a definitive document. An Overview of Blue Chips. 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. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. The Merger closed on January 4, 2021 (the "Merger Closing Date"). Sign-up to receive the latest news and ratings for Megalith Financial Acquisition and its competitors with MarketBeat's FREE daily newsletter. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. Customers Bancorp, Inc.s voting common shares are listed on the New York Stock Exchange under the symbol CUBI. 52-Wk Low $4.31. Alpha HK focuses on three financial services sectors: (1 . 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. 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. What is Megalith Financial Acquisition's stock price today? One share of MFAC stock can currently be purchased for approximately $3.33. 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, the Definitive Proxy 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. 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. The Company anticipates the transfer to the NYSE American to occur on or about December 11, 2020. Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. . 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. 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). Copies of the prospectus may be obtained by contacting Chardan Capital Markets, LLC, 17 State Street, 21st Floor, New York, New York 10004. In connection with the closing of the Merger, Megalith is changing its name to BM Technologies, Inc. (BMT) and will trade under the symbol BMTX starting Wednesday, January 6, 2021. Megalith Financial Acquisition News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider 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. Each warrant entitles the holder thereof to purchase one share of the Company's Class A common stock at $11.50 per share. 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,. received from newly issued shares through a PIPE transaction and assumed debt of $40M. The Board of Directors has now declared that the payment date for the conditional special dividend is January 4, 2021. 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. 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. 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). Banking & Financial Services. Raymond James is acting as financial advisor to BankMobile and Customers Bank. 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). Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. No offer of securities shall be made except by means of a definitive document. 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