other material
confidence high
sentiment neutral
materiality 0.75
AtlasClear enters $45M financing with Hanire and extends Funicular note maturity
AtlasClear Holdings, Inc.
- Entered securities purchase agreement with Hanire for up to 333,333 shares at $15.00/share (post 1-for-60 reverse split) and $40M convertible note at 12% simple interest.
- Note funded in tranches tied to milestones (e.g., $5M at closing, $12.5M upon Wilson-Davis settlement); conversion at 60% of 20-day VWAP.
- Amended $6M Funicular secured note: maturity extended to Jan 31, 2028; defaults waived; consent to Hanire deal granted.
- Stockholders approved Wilson-Davis, Chardan, Funicular, Winston & Strawn, and Tau stock issuances; 1-for-3 reverse split proposal rejected.
- Authorized shares increased to 500M common and 25M preferred; 1-for-60 reverse split filed and effective Dec 31, 2024.