AtlasClear to acquire Ark Financial; expects $45M revenue, $5M net income

AtlasClear Holdings, Inc. has entered into a Letter of Intent to acquire Ark Financial Services, Inc. and its subsidiary, Dawson James Securities, Inc., a full-service investment bank. This acquisition is expected to be accretive in the first year and will add investment banking and capital markets origination to AtlasClear's correspondent-clearing platform. Following this and another pending acquisition, the combined business is projected to operate at approximately $45 million in annualized revenue and $5 million in operating net income. The transaction will close in two steps, pending regulatory approvals.