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TAMPA - AtlasClear Holdings, Inc. (NYSE American:ATCH), currently trading at $0.16 per share with a market capitalization of $0.1 million, has updated shareholders on amended terms for its $45 million investment agreement with Hanire LLC, according to a company press release. According to InvestingPro data, the stock’s technical indicators suggest oversold conditions.
The revised agreement maintains the total investment amount but restructures the payment schedule from four tranches to two. The initial investment will increase to $20 million from the originally planned $10 million, with the remaining $25 million to follow in a second tranche. This development comes as InvestingPro data shows the stock has declined 98.44% year-to-date, currently trading near its 52-week low of $0.14.
Under the new terms, Hanire will purchase 19.9% equity in AtlasClear Holdings, with the balance in convertible notes. The investor will receive two board seats, subject to maintaining minimum equity ownership thresholds.
John Schaible, Executive Chairman of AtlasClear Holdings, noted that the company has paid down more than $19.27 million in outstanding convertible notes. The board has agreed to potentially use up to $5 million from the first investment tranche for a stock buyback program.
"At the request of shareholders, we want to update the market on the previously announced Hanire investment agreements and the improvements to the transaction for our shareholders, which we anticipate funding shortly," said Craig Ridenhour, President of AtlasClear Holdings.
AtlasClear Holdings describes itself as a financial services firm focused on developing trading, clearing, settlement and banking platforms for small and middle market financial services firms. The company owns Wilson-Davis & Co., a securities broker-dealer, and Commercial Bancorp of Wyoming.
The company did not specify an exact timeline for when the funding is expected to be completed.
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