4 Firms Guide $140M Fintech Merger With Blank Check Co.

Law360 (August 6, 2020, 11:02 PM EDT) -- Financial technology group BankMobile Technologies said Thursday it was going public through a merger with special purpose acquisition company Megalith Financial Acquisition Corp. in a deal that values the combined business at $140 million and that was guided by four law firms: Nelson Mullins, Stradley Ronon, Duane Morris and Ellenoff Grossman.

BankMobile Technology Inc., a subsidiary of Customers Bank, said that following the transaction the combined company will be known as BM Technologies Inc. and will trade on the New York Stock Exchange.

Blank-check companies, also known as special purpose acquisition companies, or SPACs, are shell entities that raise money through an...

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