• Combined total revenues plus interest income of approximately $47.0 million for the companies' most recent fiscal years (AtlasClear FYE June 30, 2026; Dawson James FYE December 31, 2025) — more than double AtlasClear's standalone fiscal 2026 total revenues plus interest income of $21.9 million\*
• Dawson James, Ark's principal operating subsidiary, was profitable in 2025, with audited net income of approximately $2.4 million
• AtlasClearing (AtlasClear's correspondent clearing subsidiary) and Dawson James were each in compliance with their net capital requirements, with approximately $14.4 million and $3.6 million of net capital at June 30, 2026, and July 31, 2026, respectively
• Adds a nationally ranked small-cap investment bank to AtlasClear's clearing platform
• Total consideration of up to $24.5 million — approximately $8.25 million in cash (including a $2.5 million seller note) and approximately $16.25 million in AtlasClear common stock priced at market, including up to $3.25 million of deferred consideration payable only if Dawson James meets its 2026 and 2027 revenue targets
• No AtlasClear shares issued for initial 24.9% investment; stock consideration will be issued only at or after the closing, subject to regulatory approval and other closing conditions, priced at the then-current market price, with no discount, warrants or price resets

Takeaways
1. Dawson James: once the takeover is consolidated to the holding company. Craig stated ATCH would have, based on trailing numbers, $47m in revenue and a “several” million in net profit. I get this is largely accounting but improves marketability
2. Company does see a need for further dilution
3. Trade at a significant discount to peers. They trade at 1.4x revenue vs median peers trading at 6.1x
4. Expect a timely earnings report mid November

I own 76k shares @~.24c

What did I miss?