AtlasClear Holdings (NYSE American: ATCH) announced that it has entered into definitive agreements for a $20 million financing led by Funicular Funds, LP, with insider participation from Sixth Borough Capital. The news sent shares up 50% as investors reacted positively to the Company’s strengthened capital position and growth outlook.
The financing includes $10 million in convertible debt with a five-year term, an 11% coupon, and a $0.75 conversion price. An additional $10 million, which includes $4.25 million converted from recent debt financing, will be invested through units priced at $0.60 each, consisting of one share of common stock and one warrant with a $0.75 strike price.
Executive Chairman John Schaible said the financing positions AtlasClear to accelerate its business model, onboard new correspondent clients, and expand into additional revenue streams. President Craig Ridenhour added that the capital will strengthen the Company’s operations, increase staffing capacity, and support the deployment of new technologies.
Dawson James served as exclusive placement agent for the transaction.
The post AtlasClear Shares Surge 50% Following $20 Million Financing Announcement appeared first on PRISM MarketView.
