Core Viewpoint - AtlasClear Holdings has successfully closed an additional $2 million of a previously announced $5 million financing, demonstrating strong support from its Board members and strategic investors [2][3][4]. Financing Details - The total amount raised is $5 million in gross proceeds through the issuance of promissory notes, with a 20% Original Issue Discount, resulting in an aggregate principal amount of $6,250,000 [3]. - The notes mature in six months or upon completion of a qualified equity financing of at least $10 million, and they may be converted into equity at the holder's option [3]. Leadership Changes - Sandip Patel, a Board member, led the final closing with a $1 million investment and will join the company as Chief Financial Officer and General Counsel [4][5]. - Sixth Borough Capital increased its investment to a total of $950,000, marking its third investment in the company [4]. Company Strategy and Outlook - The company aims to build long-term value by leveraging fintech to bridge traditional finance with innovative products like cryptocurrency [6]. - AtlasClear Holdings is focused on improving its balance sheet and increasing stockholder equity, which are seen as positive indicators for future growth [6]. Upcoming Financial Reporting - The company plans to file its 10K report by September 29, 2025, followed by an earnings call on September 30, 2025 [7][8]. Company Overview - AtlasClear Holdings is developing a technology-enabled financial services platform aimed at enhancing trading, clearing, settlement, and banking for small and mid-market financial services firms [9]. - The leadership team consists of experienced professionals from various established financial services firms, indicating a strong foundation for future growth [9].
AtlasClear Holdings Secures Additional $2,000,000 Led by 2 Board Members, Completing Previously Announced $5 Million in Funding