Tether’s Next Focus:- Crypto IPOs this year have surged this year. eToro, Circle, Animoca Brands, Kraken, are among the top crypto companies that are eyeing IPO in 2025.
Adding on to this, in a latest update, Singapore-based Antalpha has also launched its roadshow for its upcoming IPO on NASDAQ.
According to the Form-1 SEC filing Antalpha has filed, the stablecoin giant Tether will be buying the company shares too.
Antalpha is a key lending partner of the Bitcoin mining giant and provides Bitcoin supply and margin laons. Its subsidiary Antalpha Prime Technology platform give its clients digital asset loans, such as borrowing Stablecoins of fait against crypto collateral.
It also manages a web-3 focused funding venture, Antalpha Ventures. It has actively invested in a diverse portfolio of early-stage Web3, blockchain, and digital asset infrastructure companies.
Few of the names include Avalon Labs, Solv Protocol, Orderly Network, DAOBase, Mint Blockchain, CoinFX, among others.
Tether to Invest in Antalpha IPO: All you need to Know
As per the press release accessed by Coingape, Antalpha plans to offer approximately 3.85 million ordinary shares under the ticker symbol “ANTA.” The expected price range is between $11.00 and $13.00 per share.
The company aims to raise approximately $46 million through the IPO. This would value it at around $277 million at the midpoint of the proposed price range.
Fort the financials, in the 12 months ending December 31, 2024, Antalpha reported revenue of $47 million.
Notably, Tether, the issuer of the USDT stablecoin, will be purchasing up to $25 million worth of shares in the offering, representing about 54% of the deal.
Antalpha’s move to go public comes amid a resurgence in crypto companies going public particularly in the United States. Further, the company’s close relationship with Bitmain also positions it strategically within the Bitcoin mining ecosystem.
Also Read: Michael Saylor Hits At Microsoft
Why the IPO Matters for Crypto Mining Business
With the fund raised from the IPO, Alphanta aims to increase its Bitcoin loan services for the Bitcoin mining industry players.
Besides Bitcoin loans, it also provides supply chain loans that includes mining machine laons, Hashrate loans in USD-denominations.
According to the SEC Form-1 filing, the company has also shown interest in exploring new finical solutions for restricting the rising electricity costs with crypto mining.
The IPO is contingent upon the effectiveness of a registration statement filed with the U.S. Securities and Exchange Commission (SEC), which has not yet become effective.
As such, these securities cannot be sold, nor offers to buy accepted, until the registration statement is effective.
But if accepted, with the Antalaphe IPO, crypto mining business will indirectly receive boost. The raised funds by the company will be used by the company to provide loans for the purchase of crypto mining machines. It is also likely to invest more via its Alphanta Ventures in the emerging web3 projects.
Related: eToro IPO
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