Quantum FinTech Acquisition Corporation, a special
purpose acquisition company listed on the New York Stock Exchange (NYSE) under the symbol QFTA, has
received approval from its stockholders for a proposed business combination
with AtlasClear, Inc. This decision was made at a meeting held on November 3,
2023.
The merger is expected to be finalized as soon as
the remaining closing conditions, as outlined in the proxy statement for the
special meeting, are met. One critical condition is the approval of the common stock
of the new company for listing on the NYSE. Following the
successful merger, the common stock of the new entity will be traded on the exchange under the symbol “ATCH.”
During the meeting, Quantum’s
stockholders, holding 4,953,369 out of a possible 5,050,384 shares, opted to
redeem their shares for a proportional amount held in Quantum. Preliminary
calculations suggest that around $53.1 million, equivalent to approximately
$10.73 per public share, will be utilized to pay such holders.
According to the official statement, the combined
entity will have a full exchange platform for a wide range of financial
products, along with a prime brokerage. Following the acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of Commercial
Bancorp of Wyoming, it will also possess a prime banking platform.
Additionally, the enterprise plans to introduce a fixed-income risk management
platform.
AtlasClear Sets Its Sights on New Opportunities
Last year, AtlasClear, Quantum FinTech Acquisition
Corporation, and Atlas FinTech Holdings Corp. announced a definitive business
combination agreement. This alliance will enable AtlasClear to develop a
technology-driven financial platform designed to revolutionize the trading,
clearing, settlement
Settlement
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Read this Term, and banking of financial products, with a
strong emphasis on small and middle-market financial services firms.
Robert McBey, the CEO of Wilson Davis & Co,
mentioned: “AtlasClear is expected to possess best-in-class fintech
capabilities for its target marketplace in trading, clearing, and settling
financial products. With the proposed acquisitions of a correspondent
clearing broker-dealer and a Federal Reserve Member, we believe AtlasClear will
be well positioned to execute its strategy to service small and mid-sized
financial services firms.”
Quantum FinTech Acquisition Corporation, a special
purpose acquisition company listed on the New York Stock Exchange (NYSE) under the symbol QFTA, has
received approval from its stockholders for a proposed business combination
with AtlasClear, Inc. This decision was made at a meeting held on November 3,
2023.
The merger is expected to be finalized as soon as
the remaining closing conditions, as outlined in the proxy statement for the
special meeting, are met. One critical condition is the approval of the common stock
of the new company for listing on the NYSE. Following the
successful merger, the common stock of the new entity will be traded on the exchange under the symbol “ATCH.”
During the meeting, Quantum’s
stockholders, holding 4,953,369 out of a possible 5,050,384 shares, opted to
redeem their shares for a proportional amount held in Quantum. Preliminary
calculations suggest that around $53.1 million, equivalent to approximately
$10.73 per public share, will be utilized to pay such holders.
According to the official statement, the combined
entity will have a full exchange platform for a wide range of financial
products, along with a prime brokerage. Following the acquisition
Acquisition
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of Commercial
Bancorp of Wyoming, it will also possess a prime banking platform.
Additionally, the enterprise plans to introduce a fixed-income risk management
platform.
AtlasClear Sets Its Sights on New Opportunities
Last year, AtlasClear, Quantum FinTech Acquisition
Corporation, and Atlas FinTech Holdings Corp. announced a definitive business
combination agreement. This alliance will enable AtlasClear to develop a
technology-driven financial platform designed to revolutionize the trading,
clearing, settlement
Settlement
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on the clearance process. In the United States, the settlement date for marketable stocks is usually 2
Read this Term, and banking of financial products, with a
strong emphasis on small and middle-market financial services firms.
Robert McBey, the CEO of Wilson Davis & Co,
mentioned: “AtlasClear is expected to possess best-in-class fintech
capabilities for its target marketplace in trading, clearing, and settling
financial products. With the proposed acquisitions of a correspondent
clearing broker-dealer and a Federal Reserve Member, we believe AtlasClear will
be well positioned to execute its strategy to service small and mid-sized
financial services firms.”