AtlasClear Holdings secures $20 million financing led by Funicular Funds

AtlasClear Holdings, Inc. (NYSE American: ATCH) announced it has entered into definitive agreements for a $20 million financing round led by Funicular Funds, LP with participation from insider Sixth Borough Capital.

The financing structure includes $10 million in convertible debt with a 5-year term, 11% coupon rate, and conversion price of $0.75 per share. The remaining $10 million will be invested through units priced at $0.60 each, containing one share of common stock and one warrant with a $0.75 strike price. This portion includes $4.25 million converted from recent debt financing.

After accounting for the debt conversion, the company will receive gross proceeds of $15.75 million before placement agent fees and transaction expenses, according to the press release.

"We are excited to report that Funicular Funds, LP has led a reinvestment into our Company as part of a $20,000,000 financing, which includes the rollover of $4,250,000 of the recent debt financing and participation from Sixth Borough Capital," said John Schaible, Executive Chairman of AtlasClear Holdings.

Craig Ridenhour, President of AtlasClear Holdings, stated that the capital will enable the company to increase staff, bandwidth, and capabilities while facilitating technology deployment.

Dawson James served as exclusive placement agent for the transaction.

AtlasClear Holdings operates a financial services platform through its subsidiary Wilson-Davis & Co., Inc., a securities broker-dealer registered since 1968, and plans to acquire Commercial Bancorp of Wyoming, parent of Farmers State Bank.

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