Mergers & Acquisitions ·
AtlasClear signs agreement to acquire Ark Financial Services for up to $24.5M in cash and stock
ATCHAtlasClear Holdings, Inc.
AtlasClear Holdings signed a definitive business combination agreement to acquire Ark Financial Services, parent of investment bank Dawson James Securities. AtlasClear completed an initial 24.9% equity purchase for $2.5 million in cash and a $2.5 million promissory note. Upon closing, subject to FINRA approval and other conditions, AtlasClear will acquire the remaining 75.1% stake for up to $24.5 million total consideration, consisting of approximately $8.25 million in cash and shares valued at market price, plus deferred earn-out payments tied to revenue targets. The combined entity would generate approximately $47 million in revenues. AtlasClear Holdings operates a technology-enabled financial services platform providing trading, clearing, settlement, and banking solutions for emerging institutions.