New deal: SBL Holdings SBMARK 3Y +250-262.5

New deal: SBL Holdings SBMARK 3Y +250-262.5

AtlasClear Holdings Inc. (ATCH) experienced a significant pre-market rally on Thursday, with shares jumping 15.43% to $1.87, following the announcement of a $3 million financing round from strategic investors. The company's stock price has been highly volatile in recent months, with a 710% gain in the last month and an 81.03% decline over the past year.

The financing round involved the issuance of promissory notes with a 20% discount, totaling $3.6 million. The notes will mature in six months or upon completion of a qualified $10 million equity financing. Dawson James Securities acted as the placement agent for the offering .

Sixth Borough Capital Management invested $500,000 in the round, marking its second investment in the company following a previous $500,000 debenture purchase. Robert D. Keyser Jr., CEO of Dawson James and a board director of AtlasClear, commented on the investment, stating that the AtlasClear opportunity has "considerably more upside in a shorter period than originally expected" .

Executive Chairman John Schaible highlighted the need for expansion due to the performance of subsidiary Wilson Davis & Co. "Business growth demands expansion of our capital base to absorb more correspondent clearing business," Schaible said. The company aims to improve operational efficiency while seeking larger investment opportunities .

Despite its volatile performance, AtlasClear Holdings has shown strong momentum, with a market cap of $25.40 million and an average daily trading volume of 34.95 million shares. The stock has traded between $0.14 and $26.94 over the past year. According to Benzinga Pro data, ATCH closed Wednesday at $1.62, marking an 87.37% increase. Benzinga’s Edge Stock Rankings indicate that ATCH is experiencing long-term consolidation along with medium and short-term upward movement .

References
https://www.benzinga.com/markets/equities/25/09/47732655/atlasclear-holdings-surges-15-pre-market-following-3-million-strategic-financing-round