Reported Earlier: AtlasClear Holdings Secures $3M In Financing

AtlasClear Holdings, Inc. (NYSE:ATCH) announces closing of $3,000,000 financing.

AtlasClear Holdings, Inc. ("AtlasClear Holdings" or the "Company") reported today it raised $3,000,000 in gross proceeds through the issuance of promissory notes from strategic investors. The Company may raise up to an additional $2,000,000 in gross proceeds pursuant to the note financing. The notes were issued with a 20% Original Issue Discount, such that they have an aggregate principal amount of $3,600,000 and mature on the earlier of six months or the date that the Company completes a qualified equity financing of at least $10 million. The notes may be converted into equity, at each holder's option, at the closing of a qualified equity financing, at the same per share price as such financing. Dawson James Securities acted as placement agent in connection with the offering.

Sixth Borough Capital invested $500,000 into the notes, which was a second investment from Sixth Borough, following its recently announced $500,000 debenture investment last month.

"The Company recently reported excellent numbers for its wholly owned subsidiary, Wilson Davis & Co. As mentioned in that press release, we believe that the business growth demands an expansion of our capital base. We accepted this investment to timely increase our ability to absorb more of the correspondent clearing business immediately available to onboard," said John Schaible, Executive Chairman of AtlasClear.

"Since making the first investment and joining the Board, it has become evident to me that the AtlasClear opportunity has considerably more upside in a shorter period of time than I originally expected. The Board and Management are exceptional, experienced, and cohesive," said Robert D. Keyser, Jr., CEO of Dawson James and Director of the Board at AtlasClear. "The investment announced today brings immediate cash while being mindful of minimizing forward dilution and positions the Company for continued growth while it seeks to close on larger investments."

"The Company continues to improve operational efficiencies, and this infusion of capital will help solidify our progress," stated Craig Ridenhour, President of AtlasClear. "We have added revenue through investment banking, we are adding correspondents, and we are recognizing accelerated growth in stock loan. We look forward to filing our Annual Report on Form 10-K on or before September 29th showing material improvements in our balance sheet and Stockholder's Equity."