Atlasclear Holdings secures agreement from Hanire to invest up to $45M

AtlasClear Holdings (ATCH) announces it has secured an agreement from Hanire LLC to invest up to $45 million into the Company, through a combination of equity and convertible debt in a milestone based series of tranches, with the first tranche of $5 million expected in January 2025, subject to satisfaction of closing conditions. The Company believes the investment will allow AtlasClear Holdings to achieve a number of strategic goals, including: Allow for the restructuring of the current debt structure of the Company with better terms and less dilution to existing stockholders; Increase the capital base at its wholly-owned subsidiary, Wilson-Davis & Co., Inc., thereby allowing Wilson-Davis to expand its correspondent clearing business and accelerate additional business lines.; Allow the Company to move forward with the formal filings with the Federal Reserve for the proposed acquisition of Commercial Bancorp of Wyoming while providing additional capital for the bank upon a potential approval.; Provide capital for targeted, accretive acquisitions.