India, Oct. 15 -- AtlasClear Holdings, Inc. (ATCH), a financial services technology company, said Thursday it has agreed to acquire Ark Financial Services, Inc., parent of full-service investment bank Dawson James Securities, for up to $24.5 million.
AtlasClear has acquired a 24.9% stake in Ark for $2.5 million in cash and a $2.5 million promissory note. It expects to purchase the remaining 75.1% after obtaining Financial Industry Regulatory Authority (FINRA) approval and meeting other closing conditions.
The remaining stake will be acquired for $2.4375 million in cash and $13.8125 million in AtlasClear shares. Ark's former stockholders may also receive up to an additional $3.25 million, based on revenue targets for 2026 and 2027.
On a c...