To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. received from newly issued shares through a PIPE transaction and assumed debt of $40M. FREE Breaking News Alerts from StreetInsider.com! The special committees of each party reviewed this transaction and made unanimous recommendations to their respective boards of directors for approval. These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to, changes in domestic and foreign business, market, financial, political, and legal conditions; risks relating to the uncertainty of the projected financial information with respect to Westrock Coffee; risks related to the rollout of Westrock Coffee's business and the timing of expected business milestones; the effects of competition on Westrock Coffee's business; the ability of Westrock Coffee to issue equity or equity-linked securities or obtain debt financing in the future; the risk that Westrock Coffee fails to fully realize the potential benefits of acquisitions or has difficulty successfully integrating acquired companies; the availability of equipment and the timely performance by suppliers involved with the build-out of the Conway, Arkansas manufacturing facility and distribution center; the loss of significant customers; and those factors discussed in Westrock Coffees registration statement on Form S-1, which was deemed effective by the United States Securities and Exchange Commission (the SEC) on December 21, 2022, under the heading Risk Factors, and other documents Westrock Coffee has filed, or will file, with the SEC. 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. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements. 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. 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. Volume (M) 634.00. Export data to Excel for your own analysis. One share of MFAC stock can currently be purchased for approximately $3.33. On September 8, 2022, the Company announced that FTFT HK signed a Memorandum of Understanding with Alpha Financial to acquire Alpha HK. BM Technologies, Inc. is a technology company and is not a bank and provides banking services through its partner banks. News. BTIG, LLC acted as lead manager and Northland Capital Markets and I-Bankers Securities, Inc. acted as co-managers in the offering. Create your Watchlist to save your favorite quotes on Nasdaq.com. 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. 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. 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. See what's happening in the market right now with MarketBeat's real-time news feed. 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. 52-Wk High $10.13. To see all exchange delays and terms of use please see Barchart's disclaimer. BankMobile was named the Most Innovative Bank by LendIt Fintech in 2019, providing an alternative banking technology to the traditional model. 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). 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. If you have an ad-blocker enabled you may be blocked from proceeding. The BMT shares received by Customers Bancorp shareholders are subject to certain transfer restrictions and are not immediately tradeable. (844) 978-6257. Revenue) or per share (e.g. A.J. 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 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 Business Combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of the Company, 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 release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainty. the Business Combination). Raymond James is acting as financial advisor to BankMobile and Customers Bank. 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. These symbols will be available throughout the site during your session. Adding Upon closing of the transaction, the combined company will operate as BM Technologies Inc. and expects to be listed on the NYSE. 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. January 05, 2021 09:01 ET Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! The Company began mailing the Definitive Proxy Statement to its stockholders on December 11, 2020. Identify stocks that meet your criteria using seven unique stock screeners. 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. An investment company based out of New York has acquired an industrial property north of Dayton in a $5.25 million acquisition. 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View source version on businesswire.com: https://www.businesswire.com/news/home/20210105005588/en/, Jay Sidhu, Chairman & CEO 610-935-8693 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. 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. We are excited to welcome them to the Westrock Coffee team and look forward to integrating their talents and ideas into our portfolio.. Get 30 Days of MarketBeat All Access Free, Sign in to your free account to enjoy these benefits. BM Technologies to reduce workforce by ~25%, appoints president. 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. 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. We are thrilled to partner with MFAC to become a public company. * Average Estimates in Million (e.g. Many actual events and circumstances are beyond the control of Westrock Coffee. The offering was priced at $10.00 per unit, resulting in gross proceeds of $150,000,000. At the closing of the transaction, MFAC will change its name to BM Technologies. 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. 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. 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. . View source version on businesswire.com: https://www.businesswire.com/news/home/20230228006199/en/, Media: 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. Accordingly, undue reliance should not be placed upon the forward-looking statements. 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. 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, 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. Transaction will be funded through a combination of company's common stock, cash held in the MFAC trust account, proceeds. Entry into a Material Definitive Agreement. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 units at the initial public offering price to cover over-allotments, if any. No offer of securities shall be made except by means of a definitive document. But the U.S. is about to strike back with a forceful plan of action to increase domestic production. 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. 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. WEST READING, Pa.--(BUSINESS WIRE)-- As previously announced, Megalith Financial Acquisition Corp., MFAC Merger Sub Inc., Customers Bancorp, Customers Bank and BankMobile Technologies, Inc., a wholly-owned subsidiary of Customers Bank. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Get a full understanding of how Megalith Financial Acquisition Corp is performing with stock quotes and prices, as well . Megalith Financial Acquisition (NYSE:MFAC) has a market capitalization of $24.73 million. 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"). 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. Banking & Financial Services. Megalith Financial Acquisition Corp. was founded in 2017 and is based in New York, New York. All rights reserved. The company focuses on companies in the financial services industry or businesses providing technological services to the financial industry. 1; Research Tools 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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 . "The company is not in a state of financial . 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. . To ensure economic efficiency, the parties currently expect the Proposed Transaction to close on January 4, 2021. 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. BMT is one of the largest digital banking platforms in the United States and is very well positioned to take advantage of the positive digital banking trends sweeping the nation, stated Jay Sidhu, Customers Bancorps Chairman and CEO. MEGALITH FINANCIAL ACQUISITION CORP. : News, information and stories for MEGALITH FINANCIAL ACQUISITION CORP. | Nyse: MFAC.U | Nyse Megalith Financial Acquisition's mailing address is 535 5TH AVE 29TH FLOOR, NEW YORK NY, 10017. No fractional shares of BMT common stock will be issued; fractional share otherwise issuable will be rounded to the nearest whole share. This communication is being made in respect of the Proposed Transaction. Westrock Coffee is the beverage industrys brand behind the brands, supplying the worlds most recognized brands with the worlds most transformative coffee, tea, flavors, extracts, and ingredients products. April 1, 2021|markets.businessinsider.com, March 10, 2021|markets.businessinsider.com, December 21, 2020|markets.businessinsider.com. 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,. | Source: BM Technologies, Inc. is a technology company that provides banking services through its partner banks. 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. 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). Recently announced an execution of an agreement with Google to introduce digital bank accounts built on BankMobiles existing infrastructure. Chardan acted as sole book running manager in the offering. 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. Leading "Brand Behind the Brands" to Expand Omnichannel Marketing and New Product Development. The business combination transaction reflects an enterprise value for the Company of approximately $140 million. These forward-looking statements include statements with respect to Customers Bancorp, Inc.s strategies, goals, beliefs, expectations, estimates, intentions, capital raising efforts, financial condition and results of operations, future performance and business. Words such as anticipate, estimate, expect, intend, plan, and project and other similar words and expressions are intended to signify forward-looking statements.

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