AtlasClear Holdings Announces Intent to Effect Reverse Stock Split
AtlasClear Holdings (NYSE American: ATCH) has announced a 1-for-60 reverse stock split of its common stock, effective December 31, 2024. The stock will begin trading on a split-adjusted basis on January 2, 2025, maintaining its 'ATCH' symbol on NYSE American with a new CUSIP number 128745 205.
This decision follows stockholder approval at an October 21, 2024 special meeting, where four alternative split ratios (1-for-30, 1-for-40, 1-for-50, or 1-for-60) were approved. The board selected the 1-for-60 ratio. Each existing share will be converted into 1/60th of a share, with fractional shares rounded up to the nearest whole share. The split won't alter stockholders' equity percentage and won't change the stock's par value or authorized share count.
AtlasClear Holdings (NYSE American: ATCH) ha annunciato un'operazione di frazionamento inverso delle azioni ordinarie in un rapporto di 1 per 60, con effetto dal 31 dicembre 2024. Le azioni inizieranno a essere negoziate sulla base del nuovo frazionamento il 2 gennaio 2025, mantenendo il simbolo 'ATCH' su NYSE American con un nuovo numero CUSIP 128745 205.
Questa decisione segue l'approvazione degli azionisti in una riunione straordinaria del 21 ottobre 2024, dove sono stati approvati quattro rapporti alternativi di frazionamento (1 per 30, 1 per 40, 1 per 50 o 1 per 60). Il consiglio ha scelto il rapporto di 1 per 60. Ogni azione esistente sarà convertita in 1/60 di azione, con le frazioni di azioni arrotondate all'azione intera successiva. Il frazionamento non modificherà la percentuale di equity degli azionisti e non cambierà il valore nominale delle azioni o il numero di azioni autorizzate.
AtlasClear Holdings (NYSE American: ATCH) ha anunciado una división de acciones inversa en una proporción de 1 por 60, con efecto a partir del 31 de diciembre de 2024. Las acciones comenzarán a cotizar en base ajustada por la división el 2 de enero de 2025, manteniendo su símbolo 'ATCH' en NYSE American con un nuevo número CUSIP 128745 205.
Esta decisión sigue a la aprobación de los accionistas en una reunión especial el 21 de octubre de 2024, donde se aprobaron cuatro proporciones de división alternativas (1 por 30, 1 por 40, 1 por 50 o 1 por 60). La junta eligió la proporción de 1 por 60. Cada acción existente se convertirá en 1/60 de acción, con las acciones fraccionarias redondeadas hacia arriba a la acción entera más cercana. La división no alterará el porcentaje de capital de los accionistas y no cambiará el valor nominal de la acción ni el número de acciones autorizadas.
아틀라스클리어 홀딩스 (NYSE American: ATCH)는 2024년 12월 31일부터 시행되는 1대 60의 액면 분할을 발표했습니다. 주식은 2025년 1월 2일부터 분할 조정 기준으로 거래되며, NYSE American에서 'ATCH' 기호를 유지하고 새로운 CUSIP 번호 128745 205를 갖게 됩니다.
이번 결정은 2024년 10월 21일의 특별 회의에서 주주들의 승인을 받은 후 이루어졌으며, 이 회의에서 4개의 대체 분할 비율(1대 30, 1대 40, 1대 50 또는 1대 60)이 승인되었습니다. 이사회는 1대 60 비율을 선택했습니다. 기존의 각 주식은 1/60주로 전환될 것이며, 분할 주식은 가장 가까운 정수로 반올림됩니다. 이번 분할은 주주들의 자본 비율에 영향을 미치지 않으며, 주식의 액면가나 승인된 주식 수를 변경하지 않습니다.
AtlasClear Holdings (NYSE American: ATCH) a annoncé une opération de concentration inverse de ses actions ordinaires dans un ratio de 1 pour 60, avec effet au 31 décembre 2024. Les actions commenceront à être négociées sur une base ajustée après fractionnement le 2 janvier 2025, conservant son symbole 'ATCH' sur NYSE American avec un nouveau numéro CUSIP 128745 205.
Cette décision fait suite à l'approbation des actionnaires lors d'une assemblée spéciale du 21 octobre 2024, où quatre ratios de fractionnement alternatifs (1 pour 30, 1 pour 40, 1 pour 50 ou 1 pour 60) ont été approuvés. Le conseil a choisi le ratio de 1 pour 60. Chaque action existante sera convertie en 1/60 d'une action, les actions fractionnaires étant arrondies à l'action entière la plus proche. Le fractionnement ne modifiera pas le pourcentage de capitaux propres des actionnaires et ne changera ni la valeur nominale des actions ni le nombre d'actions autorisées.
AtlasClear Holdings (NYSE American: ATCH) hat einen 1-zu-60 Aktienumkehrsplitt seiner Stammaktien bekannt gegeben, der am 31. Dezember 2024 in Kraft tritt. Die Aktien werden ab dem 2. Januar 2025 auf einer nach dem Splitt angepassten Basis gehandelt, wobei das Symbol 'ATCH' an der NYSE American beibehalten und eine neue CUSIP-Nummer 128745 205 vergeben wird.
Diese Entscheidung folgt der Genehmigung der Aktionäre in einer Sonderversammlung am 21. Oktober 2024, bei der vier alternative Splittungsverhältnisse (1 zu 30, 1 zu 40, 1 zu 50 oder 1 zu 60) genehmigt wurden. Der Vorstand wählte das Verhältnis von 1 zu 60. Jede bestehende Aktie wird in 1/60 einer Aktie umgewandelt, wobei Bruchteile auf die nächste volle Aktie aufgerundet werden. Der Splitt wird den prozentualen Anteil des Eigenkapitals der Aktionäre nicht verändern und wird den Nennwert der Aktie oder die autorisierte Anzahl an Aktien nicht beeinflussen.
- Fractional shares will be rounded up to whole shares, benefiting small stockholders
- Maintains NYSE American listing compliance
- Significant 1-for-60 reduction in outstanding shares indicates potential share price concerns
- Implementation of maximum approved ratio (1-for-60) suggests more severe price support needs
Insights
Common Stock Will Begin Trading on a Split-Adjusted Basis on January 2, 2025
As previously disclosed, at the Company’s special meeting of stockholders held on October 21, 2024, the Company’s stockholders voted to approve four alternative amendments to the Company’s Charter to effect a Reverse Stock Split of the Company’s common stock at a ratio of either 1-for 30, 1-for-40, 1-for 50 or 1-for 60, with such ratio and the implementation and timing of such Reverse Stock Split to be determined by the Company’s board of directors. The board of directors subsequently approved the implementation of a 1-for-60 Reverse Stock Split.
As a result of the Reverse Stock Split, each share of common stock issued and outstanding immediately prior to the Effective Time will be automatically reclassified as and converted into one-sixtieth (1/60) of a share of common stock. The Reverse Stock Split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the Company’s equity, except to the extent that the Reverse Stock Split would result in a stockholder owning a fractional share. No fractional shares will be issued in connection with the Reverse Stock Split but any fractional share resulting from the Reverse Stock Split will be rounded up to the next whole number. As a result, stockholders who otherwise would be entitled to receive a fractional share will instead receive a whole share of common stock from the Company’s transfer agent, Continental Stock Transfer and Trust Company as a result of the Reverse Stock Split.
The Reverse Stock Split did not change the par value of the common stock or the authorized number of shares of common stock. All outstanding warrants, convertible notes or other securities entitling their holders to purchase or obtain or convert into shares of our common stock will be adjusted, as required by the terms of these securities.
About AtlasClear Holdings, Inc.
AtlasClear Holdings plans to build a cutting-edge technology enabled financial services firm that would create a more efficient platform for trading, clearing, settlement and banking of evolving and innovative financial products with a focus on the small and middle market financial services firms. The strategic goal of AtlasClear Holdings is to have a fully vertically integrated suite of cloud-based products including account opening, trade execution, risk management, regulatory reporting and settlement. The team that leads AtlasClear Holdings consists of respected financial services industry veterans that have founded and led other companies in the industry including Penson Clearing, Southwest Securities, NexTrade, Symbiont, and Anderen Bank.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Reverse Stock Split and other future events and expectations described in this press release. The Company’s actual results or outcomes and the timing of certain events may differ significantly from those discussed in any forward-looking statements. These statements are based on various assumptions and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.
Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties, including AtlasClear Holdings’ failure to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of AtlasClear Holdings to maintain relationships with customers and suppliers and strategic alliance third parties, and to retain its management and key employees; changes in general economic or political conditions; changes in the markets that AtlasClear Holdings targets; slowdowns in securities or cryptocurrency trading or shifting demand for trading, clearing and settling financial products; any change in laws applicable to AtlasClear Holdings or any regulatory or judicial interpretation thereof; and other factors, risks and uncertainties, including those that were included under the heading "Risk Factors" in AtlasClear Holdings’ Transition Report on Form 10-KT filed with the Securities and Exchange Commission on October 16, 2024 and its subsequent filings with the SEC. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this document. The Company anticipates that subsequent events and developments will cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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Source: AtlasClear
FAQ
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