BM Technologies To Be Acquired By First Carolina Bank For $67M; BM Technologies Stockholders To Receive $5.00 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
BM Technologies, Inc. (NYSE:BMTX) is set to be acquired by First Carolina Bank for $67 million, with stockholders receiving $5.00 per share in cash, a 55% premium to the current market price. Post-acquisition, BMTX will become a wholly owned subsidiary of First Carolina Bank and will be delisted from the NYSE.
October 25, 2024 | 1:12 pm
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BM Technologies is being acquired by First Carolina Bank for $67 million, with stockholders receiving $5.00 per share, a 55% premium. The company will be delisted from the NYSE.
The acquisition by First Carolina Bank at a 55% premium is likely to positively impact BMTX's stock price in the short term as investors react to the premium offer. The delisting from NYSE post-acquisition is a significant change for current shareholders.
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