Quantum FinTech Acquisition entered into a non-redemption agreement with Funicular Funds in exchange for the holder agreeing either not to request redemption in connection with an upcoming extension vote or to reverse any previously submitted redemption in connection with 2,351,800 shares.
Quantum Fintech wants to push its termination deadline to Feb. 9, 2024, according to the 8-K filing.
Funicular Funds, in return, would receive 235,180 shares and a like number of warrants to purchase 235,180 shares.
Quantum FinTech has a deal pending with AtlasClear, which provides 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. Read more.
