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Quantum FinTech Acquisition Company, a particular
function acquisition firm listed on the New York Inventory Alternate (NYSE) beneath the image QFTA, has
acquired approval from its stockholders for a proposed enterprise mixture
with AtlasClear, Inc. This determination was made at a gathering held on November 3,
2023.
Do not miss London’s premier monetary occasion! 3,500+ attendees, 150+ audio system, and 120+ exhibitors await you for unmatched networking, professional insights, and cutting-edge improvements. Register now!
The merger is predicted to be finalized as quickly as
the remaining closing circumstances, as outlined within the proxy assertion for the
particular assembly, are met. One important situation is the approval of the frequent inventory
of the brand new firm for itemizing on the NYSE. Following the
profitable merger, the frequent inventory of the brand new entity might be traded on the trade beneath the image “ATCH.”
Throughout the assembly, Quantum’s
stockholders, holding 4,953,369 out of a doable 5,050,384 shares, opted to
redeem their shares for a proportional quantity held in Quantum. Preliminary
calculations recommend that round $53.1 million, equal to roughly
$10.73 per public share, might be utilized to pay such holders.
In line with the official assertion, the mixed
entity could have a full trade platform for a variety of economic
merchandise, together with a main brokerage. Following the acquisition of Industrial
Bancorp of Wyoming, it is going to additionally possess a main banking platform.
Moreover, the enterprise plans to introduce a fixed-income threat administration
platform.
Hold Studying
AtlasClear Units Its Sights on New Alternatives
Final yr, AtlasClear, Quantum FinTech Acquisition
Company, and Atlas FinTech Holdings Corp. introduced a enterprise
mixture settlement. This alliance will allow AtlasClear to develop a
technology-driven monetary platform designed to revolutionize the buying and selling,
clearing, settlement , and banking of economic merchandise, with a
sturdy emphasis on small and middle-market monetary companies companies.
Robert McBey, the CEO of Wilson Davis & Co,
talked about: “AtlasClear is predicted to own best-in-class fintech
capabilities for its goal market in buying and selling, clearing, and settling
monetary merchandise. With the proposed acquisitions of a correspondent
clearing broker-dealer and a Federal Reserve Member, we consider AtlasClear will
be effectively positioned to execute its technique to service small and mid-sized
monetary companies companies.”
Quantum FinTech Acquisition Company, a particular
function acquisition firm listed on the New York Inventory Alternate (NYSE) beneath the image QFTA, has
acquired approval from its stockholders for a proposed enterprise mixture
with AtlasClear, Inc. This determination was made at a gathering held on November 3,
2023.
The merger is predicted to be finalized as quickly as
the remaining closing circumstances, as outlined within the proxy assertion for the
particular assembly, are met. One important situation is the approval of the frequent inventory
of the brand new firm for itemizing on the NYSE. Following the
profitable merger, the frequent inventory of the brand new entity might be traded on the trade beneath the image “ATCH.”
Do not miss London’s premier monetary occasion! 3,500+ attendees, 150+ audio system, and 120+ exhibitors await you for unmatched networking, professional insights, and cutting-edge improvements. Register now!
Throughout the assembly, Quantum’s
stockholders, holding 4,953,369 out of a doable 5,050,384 shares, opted to
redeem their shares for a proportional quantity held in Quantum. Preliminary
calculations recommend that round $53.1 million, equal to roughly
$10.73 per public share, might be utilized to pay such holders.
In line with the official assertion, the mixed
entity could have a full trade platform for a variety of economic
merchandise, together with a main brokerage. Following the acquisition of Industrial
Bancorp of Wyoming, it is going to additionally possess a main banking platform.
Moreover, the enterprise plans to introduce a fixed-income threat administration
platform.
Hold Studying
AtlasClear Units Its Sights on New Alternatives
Final yr, AtlasClear, Quantum FinTech Acquisition
Company, and Atlas FinTech Holdings Corp. introduced a enterprise
mixture settlement. This alliance will allow AtlasClear to develop a
technology-driven monetary platform designed to revolutionize the buying and selling,
clearing, settlement , and banking of economic merchandise, with a
sturdy emphasis on small and middle-market monetary companies companies.
Robert McBey, the CEO of Wilson Davis & Co,
talked about: “AtlasClear is predicted to own best-in-class fintech
capabilities for its goal market in buying and selling, clearing, and settling
monetary merchandise. With the proposed acquisitions of a correspondent
clearing broker-dealer and a Federal Reserve Member, we consider AtlasClear will
be effectively positioned to execute its technique to service small and mid-sized
monetary companies companies.”
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