The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. 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"). Accordingly, we believe that the opportunity to bring BankMobile to the public markets as a stand-alone company is highly attractive.. 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. Westrock Coffee Company (Nasdaq: WEST) (Westrock Coffee, or the "Company), a leading integrated coffee, tea, flavors, extracts, and ingredients solutions provider to the retail, foodservice and restaurant, convenience store and travel center, non-commercial, CPG, and hospitality industries, announced today the Company has acquired Bixby Roasting Co. (Bixby), a specialty-grade roaster that is a leader in the emerging influencer-led brand space. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Contact A.J. The Board of Directors has now declared that the payment date for the conditional special dividend is January 4, 2021. Volume (M) 634.00. 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The company raised approximately $170 million through an IPO in August 2018. 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. Sign-up to receive the latest news and ratings for Megalith Financial Acquisition and its competitors with MarketBeat's FREE daily newsletter. Keefe, Bruyette, & Woods, - a Stifel Company is acting as financial advisor and capital markets advisor to MFAC. 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. No offer of securities shall be made except by means of a definitive document. Global Markets News Expert Spotlight TipRanks Labs Earnings Reports Insights Market Breakdowns Dividend Stock News Crypto News. 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. (844) 978-6257. Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! 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. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. More information can also be found at https://www.megalithfinancial.com/investor-relations. Additional Information and Where to Find It. The transaction reflects an enterprise value for the Company of $140 million. 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. 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. Caves Valley acquired the retail and office portion for $27 million in 2020 from a subsidiary of Ashkenazy Acquisition Corp. Its efficient operating model enables partner banks to provide low-cost banking services to low/middle-income Americans who have been left behind by the high-fee model of traditional banks. NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES. Our daily ratings and market update email newsletter. 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, US Treasury official visited China last week, sources say, Democrat Tester says he will oppose Biden ESG investment rule, Gender-equal boards out of reach until 2038, says MSCI. We believe that BankMobiles approach to collaborate with distribution partners and partner banks, positions it well to continue to grow as an increasing number of non-banks are looking to offer financial services to their existing customers. 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). 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. Feb 23, 2023. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. The official website for the company is www.megalithfinancial.com. 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). 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. Adding In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. Please disable your ad-blocker and refresh. 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. The Company anticipates the transfer to the NYSE American to occur on or about December 11, 2020. Dividend). Megalith Financial Acquisition Corp. 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 transaction is structured as a forward subsidiary merger, whereby BankMobile will merge with a newly-formed subsidiary of MFAC, with MFACs merger subsidiary continuing as the surviving entity and a wholly-owned subsidiary of MFAC. All forward-looking statements and information set forth herein are based on managements current beliefs and assumptions as of the date hereof and speak only as of the date they are made. What is Megalith Financial Acquisition's stock symbol? 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. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. Remington and I are thrilled to take our careers and company to the next level by joining forces with Westrock Coffee, said Miles Fisher. 333-249815) on November 3, 2020, as amended on November 18, 2020 (the Registration Statement) (which includes the Preliminary Proxy Statement, as amended, and a prospectus (the Prospectus) in connection with the Proposed Transaction), and will file other documents regarding the Proposed Transaction with the SEC. 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our. 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. All BMT serviced deposits and loans will remain at Customers Bank immediately after the closing of the transaction. 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? | Source: See what's happening in the market right now with MarketBeat's real-time news feed. Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. Export data to Excel for your own analysis. Megalith Financial Acquisition Corp. is a publicly traded investment vehicle formed for the purpose of acquiring or merging with one or more businesses in the financial technology or financial services industries. 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 U.S. is dangerously lacking in critical minerals such as cobalt, lithium, and rare earths needed to maintain our national security. 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. With offices in 10 countries, the Company sources coffee and tea from 35 origin countries. Additional Information and Where to Find It. Megalith Financial Acquisition trades on the New York Stock Exchange (NYSE) under the ticker symbol "MFAC.". BM Technologies, Inc., (f/k/a/ Megalith Financial Acquisition Corp.) Completes Business Combination with BankMobile Technologies, Inc. Megalith Financial Acquisition Corp. These symbols will be available throughout the site during your session. Identify stocks that meet your criteria using seven unique stock screeners. BankMobile has also expanded its White-Label strategy most recently with T-Mobile for the launch of T-Mobile MONEY. China is aggressively locking up mines and production. Get short term trading ideas from the MarketBeat Idea Engine. 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. 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. Alpha HK focuses on three financial services sectors: (1 . An Overview of Blue Chips. The public company will be renamed BM Technologies. DunklauChief Executive Officeraj@megalithfinancial.com. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. Item 1.01. Pro forma net leverage of 4.2x based upon 2020E pro forma core EBITDA of $3.8M. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The company can be reached via phone at 212 235 0430. The emergence of influencer-led brands has created a new sales channel in the beverage business, and Bixby is at the forefront of its development, said Elizabeth McLaughlin, Executive Vice President of Sales of Westrock Coffee. Leading Brand Behind the Brands to Expand Omnichannel Marketing and New Product Development. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. With the resources and momentum that Westrock Coffee brings, we are ready to get to work and fuel the product development and e-commerce offerings of the Company.. Ellenoff Grossman & Schole is acting as legal counsel to MFAC. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. 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? . 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. 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. A.J. WEST READING, Pa.--(BUSINESS WIRE)-- 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. Revenue) or per share (e.g. 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. FREE Breaking News Alerts from StreetInsider.com! Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. All rights reserved. One share of MFAC stock can currently be purchased for approximately $3.33. In connection therewith, the Company's stockholders voted in favor of all proposals, including the . By creating a free account, you agree to our, Home Depot Stock Earnings Slide, Long Term Value Still There, AbbVie Stock Still a Solid Buy Despite Challenges. 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. 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. 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. 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. https://www.businesswire.com/news/home/20210105005588/en/, Do Not Sell My Personal Information (CA Residents Only). It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Watchers 1,285 52-Wk Low $4.31 52-Wk High $10.13. 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. By Barchart Solutions with a forceful plan of action to increase domestic production conditions but are... Counsel to Customers Bank immediately after the closing of the transaction and Stradley Ronon Stevens & Young LLP! Business Combination with BankMobile Technologies, Inc. acted as co-managers in the UNITED STATES data provided is least. Website at http: //www.megalithfinancial.com businesses providing technological services to the NYSE in 2018. Stock were redeemed of all proposals, including the Company anticipates the transfer to the NYSE in August 2018 the! 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