AtlasClear Holdings, Inc. (“AtlasClear Holdings”) (NYSE: ATCH)
today announced it expects to ring the Opening Bell at the New York
Stock Exchange (“NYSE”) on March 6th, 2024, in celebration of its
public listing on the NYSE American LLC under the trading symbol
“ATCH”, following the closing of the business combination (the
“transaction”) between AtlasClear, Inc. (“AtlasClear”) and Quantum
FinTech Acquisition Corporation (“Quantum”).
Chief Strategy Officer of AtlasClear Holdings, John Schaible, is
expected to ring the bell alongside other members of the leadership
team of AtlasClear Holdings, including:
- Robert McBey, Chief Executive Officer
- Craig Ridenhour, Chief Business Development Officer
- Steve Carlson, Director
- James Tabacchi, Director
- Sandip Patel, Director
The Opening Bell will ring at 9:30 a.m. ET and interested
parties may tune in to a live stream on the NYSE’s website at:
https://www.nyse.com/bell. Videos and photos during and following
the ceremony will be shared on NYSE’s YouTube and Facebook pages
and on Twitter @NYSE.
About AtlasClear
AtlasClear plans to build a cutting-edge 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. The strategic goal of AtlasClear
is to have a fully vertically integrated suite of cloud-based
products including account opening, trade execution, risk
management, regulatory reporting and settlement. The team that will
lead AtlasClear consists of respected financial services industry
veterans that have founded and led other companies in the industry
including Penson Clearing, Southwest Securities, NexTrade and
Anderen Bank.
About the Financial Technology
The nature of the combined entity is expected to be supported by
robust, proven, financial technologies with a full suite that will
enable the flow of business and success of the enterprise. The
combined entity is expected to have a full exchange platform for a
spectrum of financial products. In addition, the combined entity is
expected to have a full prime brokerage and, following the
completion of the proposed acquisition of Commercial Bancorp of
Wyoming (“Commercial Bancorp”), a prime banking platform with
complete front-end delivery. The enterprise is anticipated to offer
a fixed income risk management platform which can be expanded to a
diverse application on financial products.
AtlasClear Holdings is expected to be run by a new digital suite
of technologies that became part of the transaction at closing.
About Wilson-Davis & Co., Inc.
Wilson-Davis & Co. Inc. (“Wilson-Davis”) is a full-service
correspondent securities broker-dealer. The company is registered
with the Securities and Exchange Commission (“SEC”), the Financial
Industry Regulatory Authority and the Securities Investor
Protection Organization. In addition, Wilson-Davis is a member of
DTCC as well as the National Securities Clearing Corporation.
Headquartered in Salt Lake City, Utah and Dallas, Texas.
Wilson-Davis has been servicing the investment community since
1968, with satellite offices in California, Arizona, Colorado, New
York, New Jersey and Florida.
About Commercial Bancorp of Wyoming
Commercial Bancorp is a bank holding company operating through
its wholly-owned subsidiary, Farmers State Bank (“FSB”) and has
been servicing the local community in Pine Bluffs, WY since 1915.
It has focused the majority of its services on private and
corporate banking. A member of the Federal Reserve, FSB is expected
to be a strategic asset for AtlasClear Holdings’ long-term business
model.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended, that reflect AtlasClear’s current views with
respect to, among other things, the future operations and financial
performance of AtlasClear Holdings. Forward-looking statements in
this communication may be identified by the use of words such as
“anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,”
“expect,” “foreseeable,” “future,” “intend,” “may,” “outlook,”
“plan,” “potential,” “proposed” “predict,” “project,” “seek,”
“should,” “target,” “trends,” “will,” “would” and similar terms and
phrases. Forward-looking statements contained in this communication
include, but are not limited to, statements as to (i) AtlasClear’s
expectations as to various operational results and market
conditions, (ii) AtlasClear’s anticipated growth strategy,
including the proposed acquisition of Commercial Bancorp, (iii)
anticipated benefits of the transaction and proposed acquisition
and (iv) the financial technology of AtlasClear Holdings.
The forward-looking statements contained in this communication
are based on the current expectations of AtlasClear Holdings and
its management and are subject to risks and uncertainties. No
assurance can be given that future developments affecting
AtlasClear Holdings will be those that are anticipated. Actual
results may differ materially from current expectations due to
changes in global, regional or local economic, business,
competitive, market, regulatory and other factors, many of which
are beyond the control of AtlasClear Holdings. Should one or more
of these risks or uncertainties materialize, or should any of the
assumptions prove incorrect, actual results may vary in material
respects from those projected in these forward-looking statements.
Factors that could cause actual results to differ may emerge from
time to time, and it is not possible to predict all of them.
Such factors include, but are not limited to: the risk that
AtlasClear’s acquisition of Commercial Bancorp and its subsidiary
bank, FSB, does not close as a result of the failure to satisfy the
conditions to closing such acquisition (including, without
limitation, the receipt of approval of Commercial Bancorp’s
stockholders and receipt of required regulatory approvals); failure
to recognize the anticipated benefits of the transaction, which may
be affected by, among other things, competition, the ability of
AtlasClear Holdings to maintain relationships with customers and
suppliers and strategic alliance third parties, and to retain its
management and key employees; estimates of AtlasClear Holdings
financial performance being materially incorrect predictions;
AtlasClear’s failure to complete the proposed acquisition on
favorable terms to AtlasClear or at all; AtlasClear Holdings’
inability to integrate, and to realize the benefits of, the
proposed acquisition and previous acquisitions; AtlasClear
Holdings’ inability to realize the anticipated benefits of the
transaction with Pacsquare; changes in general economic or
political conditions; changes in the markets that AtlasClear
Holdings targets; slowdowns in securities or cryptocurrency trading
or shifting demand for trading, clearing and settling financial
products; any change in laws applicable to AtlasClear Holdings or
any regulatory or judicial interpretation thereof; and other
factors, risks and uncertainties, including those that were
included under the heading “Risk Factors” in the final proxy
statement/prospectus filed with the SEC, and those included under
the heading “Risk Factors” in Quantum’s 2022 Form 10-K and its
subsequent filings with the SEC. AtlasClear Holdings cautions that
the foregoing list of factors is not exhaustive. Any
forward-looking statement made in this communication speaks only as
of the date hereof. Plans, intentions or expectations disclosed in
forward-looking statements may not be achieved and no one should
place undue reliance on such forward-looking statements. AtlasClear
Holdings does not undertake any obligation to update, revise or
review any forward-looking statement, whether as a result of new
information, future developments or otherwise, except as may be
required by any applicable securities laws.
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