We are excited to welcome them to the Westrock Coffee team and look forward to integrating their talents and ideas into our portfolio.. 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. To see all exchange delays and terms of use please see Barchart's disclaimer. Luvleen SidhuChief Executive Officerlsidhu@bankmobile.com. 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%. This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. The cash component of the consideration will be funded by a portion of MFACs cash in trust as well as a private placement from institutional investors and MFACs sponsor that will close concurrently with the closing of the business combination, in addition to BankMobiles cash on its balance sheet in excess of an agreed upon cash reserve. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Norcross, Georgia, and San Antonio, Texas, March 01, 2023 (GLOBE NEWSWIRE) -- Viveon Health Acquisition Corp. (NYSE American: VHAQ, VHAQW, VHAQR, VHAQU), a special purpose acquisition company led by . 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. 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.
The balance of the consideration will consist of shares of common stock in the combined Company, each to be valued at $10.38 per share.
MFACs sponsor entity will forfeit the vast majority of its founder shares at the closing of the Transactions. | January 3, 2023 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. Top Stocks. 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. 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. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. These documents can be obtained free of charge from the sources indicated above. 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. DunklauChief Executive Officeraj@megalithfinancial.com. Entry into a Material Definitive Agreement. 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. Feb 23, 2023. (844) 978-6257. Receive MFAC Stock News and Ratings via Email. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Richard Ehst, President & COO 610-917-3263 No news. View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005588/en/, Jay Sidhu, Chairman & CEO 610-935-8693 Before making any investment decision, investors and stockholders of the Company are urged to carefully read the Registration Statement and 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. . BM Technologies, Inc.
Services and products are available wherever permitted by law through digital-first apps, online portals, and a network of offices and branches. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. ST. LOUIS, March 01, 2023 (GLOBE NEWSWIRE) Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Torreya Partners LLC ("Torreya. 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. News for Megalith Financial Acquisition Corp Registered Shs -A-Seeking Alpha 20d. 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 filed with the Securities and Exchange Commission (the SEC) a preliminary proxy statement on September 21, 2020 (the Preliminary Proxy Statement), a registration statement on Form S-4 (File No. 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. 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,. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. For more information, please visit WestrockCoffee.com. Create your Watchlist to save your favorite quotes on Nasdaq.com. All rights reserved. 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. 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. Silver Spike III Acquisition Corp. (NEO: "SPKC.U" and "SPKC.WT.U") (the "Corporation") is reporting its financial results as of December 31, 2022 and for the period from inception on March 22 . Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. Copy and paste multiple symbols separated by spaces. 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 News: This is the News-site for the company Megalith Financial Acquisition on Markets Insider This release shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. TORONTO, ON / ACCESSWIRE / March 1, 2023 / Silver Spike III Acquisition Corp. (NEO: "SPKC.U" and "SPKC.WT.U") (the "Corporation") is reporting its financial results as of December 31, 2022 and for the period from inception on March 22, 2021 to December 31, 2022.The Corporation's audited annual financial statements . In light of the relationship between MFACs sponsor and certain officers and directors of BankMobiles ultimate parent entity Customers Bankcorp Inc. (CUBI), both MFAC and CUBI appointed special committees consisting of independent directors with full access to counsel and financial advisors.
Is Stellantis Stock a Value Investors Dream? 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. Numerous competitive, economic, regulatory, legal and technological events and factors, among others, could cause Customers Bancorp, Inc.s financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements, including: the adverse impact on the U.S. economy, including the markets in which we operate, of the coronavirus outbreak, and the impact of a slowing U.S. economy and increased unemployment on the performance of our loan and lease portfolio, the market value of our investment securities, the demand for our products and services and the availability of sources of funding; the effects of actions by the federal government, including the Board of Governors of the Federal Reserve System and other government agencies, that effect market interest rates and the money supply; actions that we and our customers take in response to these developments and the effects such actions have on our operations, products, services and customer relationships; and the effects of changes in accounting standards or policies, including Accounting Standards Update ("ASU") 2016-13, Financial InstrumentsCredit Losses ("CECL"). 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. The transaction reflects an enterprise value for the Company of $140 million. N/A.
ICR for Westrock Coffee: WestrockPR@icrinc.com, https://www.businesswire.com/news/home/20230228006199/en/. Information about the directors and executive officers of MFAC and a description of their interests in the Company are contained in the Preliminary Proxy Statement and the Registration Statement filed with the SEC. Healthcare and med-tech management teams join forces to accelerate longevity-tech solutions into more than 130 million American lives by 2030. Get daily stock ideas from top-performing Wall Street analysts. December 21, 2020 21:42 ET
From roast and ground coffees to tea and ready-to-drink beverages, Westrock Coffee offers a comprehensive list of beverage solutions to the industry. 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. Each unit consists of one share of the Company's Class A common stock and one warrant. 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. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. In connection with the Special Meeting, 500 shares of Class A common stock were redeemed. 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.. The special committees of each party reviewed this transaction and made unanimous recommendations to their respective boards of directors for approval. Which Dollar Store, If Any, is Worth Your Investment Dollars? 86% of retail CFD accounts lose money, Registration on or use of this site constitutes acceptance of our.
Duane Morris LLP is acting as independent counsel to Customers Bancorps special committee. 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. 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. Launched in January 2015, BankMobiles mission has been to provide a compliant, mobile-first banking experience that is simple, affordable, and consumer-friendly. The Company filed with the Securities and Exchange Commission (the SEC) a preliminary proxy statement on September 21, 2020 (the Preliminary Proxy Statement), a registration statement on Form S-4 (File No. 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. contact@marketbeat.com 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. 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). . Shareholder percentage totals can add to more than 100% because some holders are included in the free float. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. Copies are available on the SEC's website,www.sec.gov. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. Forward Looking Statements. 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 Companys decision to voluntarily delist and transfer to the NYSE American was driven by a number of factors, including more favorable thresholds for continued listing on the NYSE American. received from newly issued shares through a PIPE transaction and assumed debt of $40M. Chardan is also acting as a capital markets advisor to MFAC. Nelson Mullins Riley and Scarborough and Stradley Ronon Stevens & Young, LLP are acting as legal counsel to Customers Bank. 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. 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. Alpha HK focuses on three financial services sectors: (1 . 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. This press release is intended to provide information to Customers Bancorp shareholders regarding the conditional special distribution and is not an offer to sell or the solicitation of an offer to buy any securities pursuant to the Merger or otherwise. 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. 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. BM Technologies, Inc. is among the largest mobile-first banking platforms in the U.S., providing access to checking and savings accounts, personal loans and credit cards. MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse
Pro forma net leverage of 4.2x based upon 2020E pro forma core EBITDA of $3.8M. Megalith Financial Acquisition Corp. 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). Many actual events and circumstances are beyond the control of Westrock Coffee. The company was founded by Luvleen Sidhu in May 2016 and is headquartered in Wayne, PA. . Caves Valley acquired the retail and office portion for $27 million in 2020 from a subsidiary of Ashkenazy Acquisition Corp. To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. More information can also be found at https://www.megalithfinancial.com/investor-relations. $0.09 (2.21%) Today. Westrock Coffee Company (Nasdaq: WEST) ("Westrock Coffee," or the "Company"), a . 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 Business Combination). The Companys efforts to identify a prospective target business will not be limited to a particular industry or geographic region, but it intends to focus on companies in the financial technology or financial services industries. This communication is being made in respect of the Proposed Transaction. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. $3.98. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $24.73 million. Lists Featuring This Company East Coast Investors (Top 10K) Type a symbol or company name. Westrock Coffee Company Announces Strategic Acquisition of Bixby Roasting Co. By: Westrock Coffee Company via Business Wire. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and should not be relied on by an investor, or others, as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. 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.). 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.
To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. MFAC and its directors and executive officers may, under the rules of the SEC, be considered participants in the solicitation of proxies with respect to the Proposed Transaction described herein. Stockholders may also obtain copies of the Definitive Proxy Statement, without charge, at the SECs website at www.sec.gov or by directing a request to: Megalith Financial Acquisition Corp., 535 Fifth Avenue, 29th Floor, New York, New York 10017. 326 E 8th St #105, Sioux Falls, SD 57103 One share of MFAC stock can currently be purchased for approximately $3.33. Export data to Excel for your own analysis. Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $26.81 million. 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. 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. Megalith Financial Acquisition (NYSE: MFACU) announces business combination with BankMobile Technologies at an enterprise value of $140M. 2023, Nasdaq, Inc. All Rights Reserved. American Consumer News, LLC dba MarketBeat 2010-2023.
Leading Brand Behind the Brands to Expand Omnichannel Marketing and New Product Development. See what's happening in the market right now with MarketBeat's real-time news feed. 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. At that time, because the closing date of the Merger was uncertain, the Board of Directors did not set a payment date for the payment of the conditional special distribution. 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. Nyse: MFAC ) has a market capitalization of $ 40M 130 American... 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