Quantum FinTech Acquisition and merger partner AtlasClear amended their business combination agreement to extend the date after which either party may terminate the deal, from Jan. 8 to Jan. 26,
This is the second time the parties have extended the date on which either side can walk away. The deal was announced in November 2022
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.
