Megalith Financial in an 8-K filing today announced that shareholders approved a deadline extension to March 1 for a business combination. The SPAC plans a merger with BankMobile — and had set a Dec. 18 shareholder vote on the proposal.
Following redemptions of 542,890 shares of Class A common stock in connection with the extension vote on Nov. 24, Megalith said approximately $27.5 million remains in trust. The SPAC also said 2,652,114 shares remain outstanding. Based on those numbers, 17 percent of the SPAC’s shares were redeemed. Read more.
