Antalpha Platform Holding Company, a leading fintech provider specializing in digital asset financing, has officially launched the roadshow for its initial public offering (IPO), with pricing expected between $11 and $13 per share.
The company plans to offer 3.85 million ordinary shares in its Nasdaq debut, aiming to raise up to $50 million and secure a market valuation approaching $277 million at the midpoint of the range.
Antalpha has also granted underwriters a 30-day option to purchase up to an additional 577,500 shares to cover potential over-allotments, further expanding the offering’s potential size.
The company has applied to list its shares on the Nasdaq Global Market under the ticker symbol “ANTA.” Roth Capital Partners and Compass Point are serving as joint book-running managers for the offering.
Founded in 2022 and headquartered in Singapore, Antalpha has quickly established itself as a key player in the digital asset ecosystem. The company is best known as the primary lending partner for Bitmain, the world’s largest manufacturer of Bitcoin mining equipment.
Through its Antalpha Prime technology platform, the firm provides supply chain and margin loans to institutional and corporate participants in the Bitcoin mining industry, with loans secured by both Bitcoin and mining machines.
The platform allows customers to originate and manage digital asset loans and monitor collateral positions with near real-time data.
Antalpha reported $47 million in revenue for the twelve months ended December 31, 2024, reflecting rapid growth in the digital asset financing space. Notably, Tether, the creator of the USDT stablecoin, has indicated interest in purchasing up to $25 million worth of shares in the IPO, representing more than half of the total offering.
The IPO is contingent on the effectiveness of a registration statement filed with the U.S. Securities and Exchange Commission, which has not yet become effective. No shares will be sold until the registration is finalized.
Antalpha’s planned public debut comes as institutional demand for digital asset infrastructure and financing continues to accelerate, with the company positioning itself to capitalize on the expansion of the global crypto economy.
If successful, the IPO would mark a significant milestone for Antalpha and signal growing investor interest in fintech firms serving the digital asset industry.