MFAC SEC filings, in plain English
Everything Megalith Financial Acquisition Corp has filed with the SEC that we hold — 40 filings, newest first, 2 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: BM Technologies, Inc., the successor to Megalith Financial Acquisition Corp, filed a merger proxy mailed on or about December 3, 2024 for a special meeting held virtually on January 3, 2025 at 12:00 p.m. Eastern Time, record date December 2, 2024. Under an Agreement and Plan of Merger dated October 24, 2024 with First Carolina Bank, a North Carolina state-chartered bank, and Double Eagle Acquisition Corp, Inc., the company would be acquired at a price of $5.00 without interest per share of common stock issued and outstanding. Why it matters: A cash price of $5.00 a share ends the investment at a fixed, certain value - a definite outcome rather than continued dilution, though this filing gives no figure for what the Megalith trust once held per share. Being acquired by a chartered bank also resolves the regulatory dependency that constrained the business. For holders the practical question is simply whether $5.00 exceeds what the shares would otherwise fetch, since approval extinguishes all further upside.
What changed: BM Technologies, Inc. — the company Megalith Financial Acquisition Corp took public — filed a preliminary proxy statement dated November 12, 2024 for a virtual-only special meeting on the Agreement and Plan of Merger entered October 24, 2024 with First Carolina Bank and Double Eagle Acquisition Corp, Inc. Merger Sub merges into BM Technologies, which survives as a wholly owned subsidiary of the bank, and each share of company common stock converts into the right to receive $5.00 in cash, without interest and subject to any withholding taxes. Why it matters: This is a cash exit at a fixed $5.00 per share for the former SPAC's holders, and the merger cannot be completed unless holders of a majority of the outstanding shares entitled to vote approve the merger agreement proposal — so an abstention or a broker non-vote has the same effect as a vote against, and banks and brokers cannot vote without instructions. Voting Agreements were signed alongside the merger agreement, but the share of the vote they cover is not stated. Holders who perfect appraisal rights under Section 262 of the DGCL take payment under those rights instead.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.