AtlasClear Holdings, Inc. (NYSE American: ATCH) announced today that it has entered into a Letter of Intent to acquire Ark Financial Services, Inc. together with its wholly owned subsidiary, Dawson James Securities, Inc., a full-service investment bank based in Boca Raton, Florida. The acquisition is expected to be accretive in the first year and will be paid through a combination of cash and AtlasClear common stock, with final terms to be detailed in a definitive agreement. To meet regulatory requirements, the transaction will close in two steps: an initial 24.9% interest upon execution of the definitive agreement, with the remaining interest acquired following FINRA approval.
Following full completion of this acquisition and the previously announced filing with the Federal Reserve to acquire Commercial Bancorp of Wyoming, AtlasClear expects the combined business to operate at an annualized revenue run rate of approximately $45 million and approximately $5 million of net income. This acquisition is part of AtlasClear’s broader growth strategy, which includes actively evaluating additional acquisition opportunities to expand its platform across origination, execution, clearing, and banking, and across a broader range of asset classes.
Dawson James is an active placement agent and underwriter for small-cap and micro-cap public companies, ranked #14 by transaction volume in the first quarter of 2026 according to PlacementTracker’s Market League Tables. Its recent transactions span digital assets, defense, industrials, biotechnology, and digital media and gaming. AtlasClear intends to integrate Dawson James’s clearing activity in-house through its wholly owned correspondent-clearing subsidiary, Wilson-Davis & Co., Inc., capturing additional execution and settlement economics that currently flow to a third-party clearing firm, and offering investment banking opportunities to other clearing clients.
“Dawson James is a productive investment bank with a consistent pipeline of capital markets transactions. Adding that business to our platform brings meaningful revenue and, once clearing transitions to Wilson-Davis, captures economics that today sit outside the Dawson James franchise. Together with our pending acquisition of Commercial Bancorp, this is a direct step toward the integrated platform we have been building,” said Craig Ridenhour, President of AtlasClear.
Robert D. Keyser, Jr., Chief Executive Officer of Ark Financial and Dawson James, added, “AtlasClear’s platform extends what we can offer our issuer and institutional clients. Clearing, settlement, and, with Commercial Bancorp, commercial banking capabilities give our team a broader set of tools to serve the small-cap and micro-cap companies that are the core of our business.”
The parties are working to finalize a definitive agreement, after which the FINRA regulatory review process will commence. Additional terms will be disclosed upon execution of the definitive agreement. For more information, visit www.atlasclear.com.
This acquisition underscores AtlasClear’s strategy to build a vertically integrated financial services platform that combines brokerage, clearing, risk management, regulatory, and commercial banking solutions. By integrating investment banking origination capabilities, the company aims to capture additional revenue streams and enhance value for its clients. The move is particularly significant for small-cap and micro-cap companies, which often face challenges in accessing capital markets and comprehensive financial services. The combined platform could provide these companies with more efficient access to funding, clearing, and banking services, potentially stimulating growth in the sector.
