AtlasClear (ATCH) investor relations material

Platform and target market

• Building integrated infrastructure to trade, clear, settle and custody assets, provide banking, and add digital-asset and blockchain capabilities as markets evolve.

• Focus on underserved financial institutions, broker-dealers and RIAs with revenue of $1 billion or less; the platform combines custody, banking, lower-cost clearing and faster onboarding.

• Microcap clearing is a high-margin entry point; correspondent relationships may support expansion into margin lending, stock loan and higher-end client business over time.

• FY ended June revenue was $20.1 million, up 85% YoY; total assets were $71.2 million, up 17% YoY.

Growth and financial position

• Six correspondent agreements signed, versus one when the clearing business was acquired; clients are onboarding at different paces, with measurable revenue contributions expected over the next several quarters.

• Revenue is diversifying beyond microcap review and execution into stock loan, stock locate, clearing and vetting fees, firm trading gains and interest income.

• Stockholders’ equity reached $21.1 million at FY-end June, compared with a low of about negative $40 million; management cited a roughly $60 million reversal.

• The original de-SPAC debt is repaid; an October 2025 convertible note carried an 11% coupon and $0.75 floor, with principal estimated at $11.3 million including PIK; subordinated demand notes totaled $1.9 million.

• A $20 million financing was completed in October 2025; management said no further capital had been raised since and that it had not used ATMs or ELOCs. Equity financing is preferred over disruptive, dilutive alternatives over coming quarters and years.

Acquisitions and platform expansion

• Dawson James’ initial 24.9% stake was completed; planned consolidation is expected to add underwriting, product distribution and trading synergies, and more than double revenue while producing profitability on trailing figures.

• Management cited combined trailing-12-month revenue of about $47 million for the two businesses; Dawson James’ economic contribution to the consolidated bottom line depends on consolidation.

• A letter of intent was announced for an institutional digital-asset business; digital assets are viewed as a key addition to a broader prime-brokerage and banking offering.

• Commercial Bancorp of Wyoming, a 115-year-old Federal Reserve member bank, is under contract to be acquired, subject to regulatory approval; management said additional capital will be needed.

• Bank purchase price was described as roughly 3x book, or about $12 million at current book value; 72% of consideration is expected in equity, with a target of $10 million–$15 million in bank capital at closing, though closing with $3 million was described as possible.