Megalith Files Investor Presentation on BankMobile Deal

Cerberus said the exercise of over-allotment options and private placements in addition to its IPO give the SPAC $259 million in trust.

With the latest PIPE investment, the SPAC now has about $258.4 million (including $230 million cash in trust) available for the deal.

The SPAC has a meger agreement with W3B Cloud. Last month Social Leveral I lopped 44% off the deal valuation and W3BCLOUD agreed to lower the minimum cash condition from $150 million to $40 million.