Quantum FinTech Merger with AtlasClear Approved

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
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Bancorp of Wyoming, it will also possess a prime banking platform.
Additionally, the enterprise plans to introduce a fixed-income risk management
platform.