Antalpha Platform Holding, a Singapore-based provider of supply chain financing for the digital asset industry, announced terms for its IPO on Tuesday.
The Singapore-based company plans to raise $46 million by offering 3.9 million shares at a price range of $11 to $13. Tether, the creator of stablecoin USDT, has indicated on $25 million worth of shares in the offering (54% of the deal). At the midpoint of the proposed range, Antalpha Platform Holding would command a market value of $277 million.
Antalpha provides financing, technology, and risk management solutions to the digital asset industry. The company is the primary lending partner for Bitmain and provides supply chain financing solutions to institutional and corporate participants in the Bitcoin mining industry, offering loans secured by Bitcoin and Bitcoin mining machines. Its technology platform, Antalpha Prime, enables its customers to apply for and manage their digital asset loans while allowing the company to closely monitor collateral positions.
Antalpha Platform Holding was founded in 2022 and booked $47 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol ANTA. Roth Capital and Compass Point are the joint bookrunners on the deal.
