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SPAC · Merger completed

Megalith Financial Acquisition Corp

Business combination with BankMobile Technologies, Inc.

Megalith Financial Acquisition Corp is a blank-check company (SPAC) that raised $150M in its initial public offering on Aug 24, 2018. It completed its business combination with BankMobile Technologies, Inc. on Jan 4, 2021; the combined company is BM Technologies, Inc. (BMTX). Ellenoff Grossman & Schole advised the SPAC and Graubard Miller advised the underwriters on the IPO.

BankMobile Technologies, established in 2015, is a division of Customers Bank and a mobile-first banking platform in the U.S. offering checking and savings accounts, personal loans and credit cards. It focuses on technology and easy-to-use products and uses a multi-partner distribution model.

Status
Merger completed
IPO date
Aug 24, 2018
IPO size
$150M
Target
BankMobile Technologies, Inc.
Announced
Aug 6, 2020
Closed
Jan 4, 2021
Combined company
BM Technologies, Inc. (BMTX)
SPAC counsel (IPO)
Ellenoff Grossman & Schole
Underwriters' counsel (IPO)
Graubard Miller

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