Chardan Serves as Sole Book-Runner for Megalith Financial Acquisition Corp.

NEW YORK, Aug. 24, 2018 /PRNewswire/ -- Chardan, a leader in Special Purpose Acquisition Company ("SPAC") IPOs, announced today that the firm acted as sole book-runner in the IPO of Megalith Financial Acquisition Corp. (NYSE: MFACU), raising an aggregate of $150,000,000. Megalith began trading on New York Stock Exchange on August 24, 2018.

The deal represents Chardan's tenth SPAC IPO in 2018 and 25^th over the past three years, placing the firm as the top investment bank for SPAC IPOs, based on deal volume, for 2016, 2017, and 2018 year-to-date.

Megalith Financial Acquisition Corp. is led by Jay S. Sidhu, Chairman and Chief Executive Officer of Customers Bancorp and Sam S. Sidhu, Chief Executive Officer of Megalith Capital Management.

In addition to Megalith Financial Acquisition Corp., in 2018 Chardan successfully led initial public offerings for Trident Acquisitions Corp., Greenland Acquisition Corp. and Tottenham Acquisition I Limited for a combined IPO value of $291 million. According to Chardan's calculations, the total U.S. SPAC market is on pace to hit $12.9 billion in gross proceeds for the 2018 fiscal year.  

About Chardan

Chardan provides a full suite of Global Investment Banking services designed for micro, small and mid-cap emerging growth companies. Our full range of services includes capital raising, merger and acquisition advisory, strategic advisory, equity research, institutional trading and market making. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.

To learn more about Chardan, visit www.chardan.com

Media Contact: 
Emily Levine, Chardan Capital Markets
[email protected]
(646) 465-9018

Thomas J. Rozycki Jr., Prosek Partners
[email protected]
(646) 503-5657

SOURCE Chardan Capital Markets, LLC

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