AtlasClear and Quantum FinTech Acquisition announced the confidential submission with the SEC of a draft registration statement on Form S-4 outlining the proposed business combination between AtlasClear and Quantum that is expected to result in Atlas FinTech Holdings transferring its trading technology assets to AtlasClear. The S-4 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.
If approved, upon closing AtlasClear stock is expected to list on the NYSE under the ticker symbol ATCL.
Tampa-based Quantum Fintech raised $175 million in a February 2021 IPO.
AtlasClear plans 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.
