Antalpha Platform Holding, a Singapore-based provider of supply chain financing for the digital asset industry, raised $49 million by offering 3.9 million shares at $12.80, towards the top of the range of $11 to $13. New investor Tether had indicated an interest in purchasing up to $25 million of the IPO (now 51% of the deal). At pricing, Antalpha commands a fully diluted market value of $329 million, 7% higher than previously anticipated.
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 plans to list on the Nasdaq under the symbol ANTA. Roth Capital and Compass Point acted as joint bookrunners on the deal.
