Atlasclear Holdings closes $20M financing investment

AtlasClear Holdings (ATCH) has closed its previously announced $20,000,000 financing. The investment was led by Funicular Funds, LP, with significant insider participation from Sixth Borough Capital. The financing consisted of $10,000,000 in convertible debt with a 5-year term at an 11% coupon and a conversion price of $0.75 per share, as well as $10,000,000 invested in the form of units sold at $0.60 per unit. Each unit consists of one share of common stock and one warrant. After giving effect to the rollover of the recent debt financing, the transaction resulted in gross cash proceeds of $15,750,000, before placement agent fees and other transaction expenses.