Quantum FinTech Acquisition in an 8-K said it has moved the termination date for its deal with AtlasClear from Dec. 8 to Jan. 8, 2024, when either side may end the proposed merger.
The target provides specialized banking and clearing services to other financial services firms, with an emphasis on global markets currently underserviced by larger vendors.
The parties in October agreed to waive the $40 million minimum cash condition.
AtlasClear also plans to acquire Wilson-Davis & Co., a correspondent clearing broker-dealer. Additionally, AtlasClear has entered into a definitive agreement to acquire Commercial Bancorp of Wyoming, a federal reserve member, following completion of the pending mergers.
AtlasClear’s goal is to build a technology-enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking of evolving and innovative financial products with a focus on the small and middle market financial services firms. Read more.
