AtlasClear Holdings amends Hanire financing deal terms

AtlasClear Holdings Inc. (NYSE American: ATCH) announced amended terms for its $45 million financing agreement with Hanire LLC, according to a company statement.

The revised agreement reduces the funding schedule from four investment tranches to two. The initial tranche increases to $20 million from the original $10 million, while the second tranche will be $25 million.

"At the request of shareholders, we want to update the market on the previously announced Hanire investment agreements and the improvements to the transaction for our shareholders, which we anticipate funding shortly," said Craig Ridenhour, president of AtlasClear Holdings.

Under the amended terms, Hanire will purchase 19.9% equity in the company, with the remaining investment structured as convertible notes. Hanire will receive two board seats contingent on maintaining minimum equity ownership thresholds.

The company has reduced its outstanding convertible notes by more than $19.27 million. The board approved using up to $5 million from the first tranche for a stock buyback program at the board's discretion, according to Executive Chairman John Schaible.

The original agreements were executed on December 31, 2024. AtlasClear Holdings operates as a financial services technology company focused on trading, clearing and settlement services for small and middle market financial services firms.

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