**BM Technologies Enters Merger Agreement with First Carolina Bank and Double Eagle Acquisition Corp**

BM Technologies, Inc. (NYSE:BMTX) has announced the signing of an Agreement and Plan of Merger with First Carolina Bank and Double Eagle Acquisition Corp, Inc. The deal, approved by BM Technologies’ board of directors, involves a merger where Merger Sub will merge with BM Technologies, with the latter continuing to operate as a wholly owned subsidiary of First Carolina Bank.

Per the terms outlined in the Merger Agreement, each outstanding common stock share of BM Technologies will be converted into cash consideration of $5.00 per share at the Effective Time, subject to tax withholding requirements. Additionally, existing warrants and restricted stock units of BM Technologies will be treated according to the terms specified in separate agreements. The transaction is contingent upon various conditions, including shareholder approval and regulatory clearances.

If certain conditions are not met, termination rights are outlined for both BM Technologies and Parent, including a termination fee of $2,750,000 payable by BM Technologies under certain circumstances. Moreover, the agreement dictates that upon completion of the Merger, BM Technologies’ common stock and warrants will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934.

Concurrently with signing the Merger Agreement, BM Technologies’ directors and executives, who collectively own around 7.04% of outstanding shares, entered into Voting Agreements supporting the transaction. These agreements entail voting their shares in favor of the Merger Agreement.

Investors are advised that certain statements in relation to this merger constitute forward-looking statements subject to various uncertainties and risks that could cause actual results to differ materially. Additional details, including voting agreements and relevant exhibits, will be accessible through filings with the Securities and Exchange Commission.

The announcement signifies a significant development for BM Technologies and its shareholders, marking a pivotal step in the company’s growth trajectory.

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.

About BM Technologies

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.