Megalith Financial Acquisition (MFACU) is planning to raise $150 million in an initial public offering (IPO) on Wednesday, August 22nd, IPO Scoop reports. The company will issue 15,000,000 shares at a price of $10.00 per share.

The company has a market cap of $187.5 million.

Chardan served as the underwriter for the IPO.

Megalith Financial Acquisition provided the following description of their company for its IPO: ”  We are a newly organized blank check company formed as a Delaware corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination.¬†We intend to employ a pro-active acquisition strategy focused on identifying potential business combination targets within both the fintech and financial services industries that are fundamentally sound, but where we believe we can be a catalyst to accelerating growth. Our acquisition strategy will seek to capitalize on the significant financial services, financial technology, banking, M&A, operational expertise, and contacts of both our management team and our board. “.

Megalith Financial Acquisition was founded in 2018 and has 0 employees. The company is located at 60 E. 42nd St, Suite 3110, New York, NY 10017, US and can be reached via phone at (212) 235-0430.

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