공시 • Feb 23
AtlasClear Holdings, Inc. Files Form 15 AtlasClear Holdings, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.0001 per share. 공시 • Feb 16
NYSE American Files A Notification of Removal from Listing and Registration on Form 25, Thereby Commencing the Process of Delisting Quantum's Securities from the NYSE American In connection with the consummation of the Business Combination, on the Closing Date, AtlasClear Holdings, Inc. (Quantum FinTech Acquisition Corporation) and New Pubco notified the NYSE American LLC (the NYSE American") that the certificate of merger relating to the Business Combination had been filed with the Secretary of State of the State of Delaware and that Quantum's outstanding securities had been converted into New Pubco Class A common stock and New Pubco Warrants, as described in the Introductory Note above. On February 12, 2024, the NYSE American filed a notification of removal from listing and registration on Form 25, thereby commencing the process of delisting Quantum's securities from the NYSE American and deregistering the securities under Section 12(b) of the Securities Exchange Act of 1934, as amended. 공시 • Nov 17
Quantum FinTech Acquisition Corporation announced delayed 10-Q filing On 11/15/2023, Quantum FinTech Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Nov 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$9.00, the stock trades at a trailing P/E ratio of 40.8x. Average trailing P/E is 27x in the Capital Markets industry in the US. Total loss to shareholders of 9.3% over the past year. New Risk • Nov 08
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$96.5m This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Negative equity (-US$7.9m). Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (US$96.5m market cap). Board Change • Aug 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Chairman of the Board & CEO John Schaible is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • May 16
Quantum FinTech Acquisition Corporation announced delayed 10-Q filing On 05/15/2023, Quantum FinTech Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Board Change • Feb 15
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Sandip Patel is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Nov 18
AtlasClear, Inc. entered into a definitive business combination agreement to acquire Quantum FinTech Acquisition Corporation (NYSE:QFTA) from Quantum Ventures LLC, Chardan Quantum LLC and others for approximately $150 million in a reverse merger transaction. AtlasClear, Inc. entered into a definitive business combination agreement to acquire Quantum FinTech Acquisition Corporation (NYSE:QFTA) from Quantum Ventures LLC, Chardan Quantum LLC and others for approximately $150 million in a reverse merger transaction on November 16, 2022. Under the terms of transaction, AtlasClear stockholders will receive merger consideration in shares equal to the quotient of (i) $75.4 million, less the purchase prices for WDCO and CB, divided by (ii) $10. In addition, the AtlasClear stockholders will receive up to 5,944,444 shares as earnout and Atlas FinTech will also receive up to $20 million common stock as earnout. Prior to the closing of the transaction, AtlasClear will receive certain assets from Atlas FinTech and Atlas Financial Technologies Corp., will complete the acquisition of broker-dealer Wilson-Davis & Co., Inc. (“WDCO”) and will consummate the transaction with Pacsquare Technologies, LLC (“Pacsquare”). In addition, at closing, the definitive agreement pursuant to which AtlasClear has agreed to acquire Commercial Bancorp. The transaction is subject to approval by Quantum's and AtlasClear's shareholders, Any waiting period applicable to the consummation of this Agreement under any Antitrust Laws shall have expired or been terminated, effectiveness of a registration statement, approval for listing on The New York Stock Exchange of the shares, regulatory approval, Lock-Up Agreement duly executed, completion by AtlasClear of the acquisition of WDCO, available cash at closing of at least $40 million and Quantum has at least $5,000,001 of net tangible assets. The transaction was unanimously approved by the Quantum's Board of Directors based upon the unanimous recommendation of a special committee of independent directors and by the Board of buyer. The transaction is currently expected to close in the first quarter of 2023. Carol Anne Huff and Jason D. Osborn of Winston & Strawn LLP acted as legal advisors to Quantum. Jason Simon of Greenberg Traurig, LLP acted as legal advisor to AtlasClear. Continental Stock Transfer & Trust Company acted as exchange agent to Quantum. 공시 • Nov 15
Quantum FinTech Acquisition Corporation announced delayed 10-Q filing On 11/14/2022, Quantum FinTech Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • Nov 11
Daniel Caamano Announces to Resign as Member of the Board of Directors and President of Quantum Fintech Acquisition Corporation Quantum FinTech Acquisition Corporation announced that on November 4, 2022, Daniel Caamano notified of his decision to resign as a member of the board of directors and as President of the Company, effective as of such date. Mr. Caamano's decision to resign was not the result of any dispute or disagreement with the Company or any matter relating to the Company's operations, policies or practices. 공시 • Aug 17
Quantum FinTech Acquisition Corporation announced delayed 10-Q filing On 08/16/2021, Quantum FinTech Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. 공시 • May 18
Quantum FinTech Acquisition Corporation announced delayed 10-Q filing On 05/17/2021, Quantum FinTech Acquisition Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC.