BM Technologies (NYSE:BMTX) Announces Agreement and Plan of Merger with First Carolina Bank

BM Technologies, Inc. (NYSE:BMTX) disclosed in a recent 8-K filing that on October 25, 2024, it entered into an Agreement and Plan of Merger with First Carolina Bank. The agreement outlines the acquisition of BM Technologies by First Carolina Bank through a merger with Double Eagle Acquisition Corp, Inc., where BM Technologies will continue as the surviving entity and operate as a wholly-owned subsidiary of First Carolina Bank.

The joint press release issued by BM Technologies and First Carolina Bank detailed the execution of the Merger Agreement. A full description of the terms within the Merger Agreement is expected to be provided in a subsequent filing on Form 8-K by the company.

The forward-looking statements included in the communication highlight the current expectations, strategies, and anticipated outcomes. These statements are subject to inherent uncertainties and risks due to potential changes in circumstances that may differ from the anticipation set forth in the forward-looking statements.

The Form 8-K further indicates that the completion of the Merger is subject to various conditions, including regulatory approvals and the satisfaction of all terms of the Merger Agreement. It also lays out the risks associated with the Merger, such as the possibility of competing offers, uncertainty regarding the timing of completion, and potential impacts on the company’s operations and business relationships.

BM Technologies has identified a number of risk factors that could affect the actual results, as expressed or implied by the forward-looking statements. These factors encompass a range of possibilities including regulatory, economic, and legislative developments, as well as risks highlighted in the company’s previous filings with the Securities and Exchange Commission (SEC).

The filing also indicates that BM Technologies and its relevant parties may be deemed as “participants” in the solicitation of proxies from the company’s stockholders in favor of the proposed transaction. Any changes in the holdings of the company’s securities by its directors or executive officers will be duly reported to the SEC.

Investors and stockholders are advised to closely monitor all relevant documents filed with the SEC, especially the Company’s proxy statement pertaining to the proposed transaction. These documents, once available, can be accessed at no cost through the SEC’s website or by requesting them directly from BM Technologies.

This communication is not intended as an offer to buy or sell securities or solicit votes or approvals, and any such actions should comply with the applicable securities laws and regulations.

BM Technologies CEO, Luvleen Sidhu, signed the report on behalf of the company on October 25, 2024, in alignment with the Securities Exchange Act of 1934.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BM Technologies’s 8K filing here.

BM Technologies Company Profile

BM Technologies, Inc, a financial technology company, facilitates deposits and banking services between a customer and its partner banks in the United States. It offers digital banking and disbursement services to consumers and students through a full service fintech banking platform. The company was formerly known as BankMobile Technologies, Inc and changed its name to BM Technologies, Inc in January 2021.