On Friday, AtlasClear Holdings, Inc. (NYSE:ATCH) announced it has signed a letter of intent to acquire Ark Financial Services, Inc. and its subsidiary Dawson James Securities, Inc., expanding into investment banking and capital markets origination.

AtlasClear Signs LOI to Acquire Ark Financial, Dawson James

The transaction will be completed in two stages, with an initial 24.9% stake followed by full ownership after FINRA approval. The deal is expected to be accretive in the first year.

AtlasClear said the combined business, including its pending acquisition of Commercial Bancorp of Wyoming, could generate about $45 million in annualized revenue and roughly $5 million in net income, as it integrates clearing operations through its unit to capture additional economics.

AtlasClear reported $46.2 million in cash and restricted cash as of December 31, 2025.

The parties are working to finalize a definitive agreement and once finalized, will commence the FINRA regulatory review process. Additional terms will be disclosed upon execution of the definitive agreement.

Management Commentary

Craig Ridenhour, president of AtlasClear, said Dawson James brings a steady flow of capital markets deals and will add meaningful revenue.

He added that moving clearing operations to Wilson-Davis will allow AtlasClear to retain economics that currently sit outside the Dawson James business.

Combined with the planned acquisition of Commercial Bancorp, the deal advances AtlasClear's push to build a fully integrated financial platform.

Robert D. Keyser Jr., CEO of Ark Financial and Dawson James Securities, said AtlasClear's platform broadens the firm's capabilities for issuer and institutional clients.

He noted that adding clearing, settlement and, pending the bank deal, commercial banking services will equip the firm with more tools to better serve its core base of small- and micro-cap companies.

ATCH Stock Price Activity: AtlasClear shares were up 3.58% at $0.32 during premarket trading on Friday, according to Benzinga Pro data.

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