Quantum FinTech Acquisition and AtlasClear announced the filing of a registration statement covering deails of their proposed merger. The S-4 was initially filed confidentially in February.
AtlasClear intends to provide specialized banking and clearing services to other financial services firms, with an emphasis on global markets currently underserviced by larger vendors.
Announced in November, the deal also covers the acquisition by AtlasClear of Wilson-Davis & Co., a correspondent clearing broker-dealer. AtlasClear has also entered into a definitive agreement to acquire Commercial Bancorp of Wyoming, a federal reserve member, following completion of the mergers.
Quantum Fintech raised $175 million in a February 2021 IPO.
The deal with Quantum is expected to close in the second or third quarter, pending required regulatory approvals. Read more.
