NYSE American Suspends AtlasClear Trading Over Low Share Price and Begins Delisting Proceedings
Key Facts
NYSE American immediately suspended trading in the common stock of AtlasClear Holdings and began delisting proceedings after the exchange’s regulator determined that the stock was no longer suitable for listing because of its low price. The decision was based on Section 1003(f)(v) of the NYSE American Company Guide, according to an NYSE Regulation notice dated November 10, 2026. The company said in a statement the same day that it had been notified of the trading suspension and the start of proceedings, and that it planned to appeal the decision by requesting a hearing. The suspension halts trading on NYSE American, while the stated intention to appeal alone does not determine whether trading will continue elsewhere. The company’s expectation that the stock would trade over the counter under the ticker ATCH could not be verified, so it is not presented as a confirmed path.
The stated delisting reason distinguishes the stock’s market status from the regulatory capital requirements of AtlasClear’s subsidiary, AtlasClearing. The decision published by NYSE Regulation tied the stock’s unsuitability for listing to its low price, while the company reported in its financial statements that AtlasClearing’s net capital was about $14.4 million on June 30, 2026. It said that level was about $14.1 million above the required minimum, compared with about $11.2 million a year earlier. These figures relate to the subsidiary and its capital requirements, and do not change the basis cited by the exchange for its listing decision. The review therefore remains tied to the listing procedures announced by the exchange, not simply to the capital figures in the company’s disclosures.
AtlasClear is entitled to seek review of the exchange staff’s decision by the Listings Qualifications Panel of the NYSE American Board of Directors’ Committee on Review. The exchange said an application to delist with the U.S. Securities and Exchange Commission would follow completion of the applicable procedures, including any appeal. This makes a review hearing a potential later step in the process; it does not mean a final delisting decision has already been issued. Meanwhile, the stated intention to appeal does not halt the immediate trading suspension that has taken effect. The notice did not set a hearing date or a timetable for completing the proceedings.
The listing proceedings come against the backdrop of reported financial growth for the year ended June 30, 2026. AtlasClear reported revenue of about $20.1 million, up 85% from the previous year, and revenue including interest income of about $21.9 million. It also said cash and cash equivalents were about $15.4 million, compared with $7.5 million a year earlier, and shareholders’ equity reached about $21.1 million after a deficit of about $6.8 million on June 30, 2025. In the audited annual report, net income fell to $1,962,875 in fiscal 2026 from $5,750,293 in the previous year. The financial indicators show a mixed picture of revenue growth and improved cash and shareholders’ equity on one hand, and lower net income on the other, while the exchange’s stated reason remained the stock’s low price.
The company said in its annual filing that it could not guarantee its ability to maintain its listing on NYSE American, and that losing its listing could affect the security’s liquidity and trading. It also disclosed that the number of issued and outstanding common shares had risen to 150,337,774 on June 30, 2026, from 40,165,603 on the same date a year earlier. These disclosures provide context for listing and trading risks acknowledged by the company, but do not change the specific reason stated in the exchange’s notice. Separately, AtlasClear said its clearing firm had signed agreements with 6 new correspondent broker-dealers, and that fiscal 2026 results included no significant revenue from those relationships. It added that it expected the relationships to begin contributing to revenue in fiscal 2027 as conversions are completed, while review of the delisting decision by the Listings Qualifications Panel remains the next announced procedural development.