Antalpha Platform Holding Company has begun its roadshow for a planned initial public offering. The fintech firm aims to raise capital by offering 3.85 million ordinary shares.
The expected share price ranges between $11 and $13. Antalpha also plans to grant underwriters a 30-day option to buy up to 577,500 extra shares. If approved, the company will trade under the symbol “ANTA” on the Nasdaq Global Market.
Based in Singapore, Antalpha plays a major role in digital asset finance. It serves as the key lending partner to Bitmain, the world’s largest producer of Bitcoin mining machines.
Digital asset lender awaits SEC approval
Through its Prime technology system, Antalpha assists clients in the supply chain of Bitcoin and margin loans. With the platform, institutions are able to monitor digital asset loans and collateral in real-time.
Roth Capital Partners and Compass Point are acting as joint book-runners on the IPO. The offering will proceed only after the registration is approved by the U.S. Securities and Exchange Commission. None of the shares will be sold before that.
Investors will have to wait for the formal prospectus to commit. Antalpha’s filing marks the increasing interest in financial services that utilize the blockchain. The institutional lending and risk management focus of the company puts it in a rapidly expanding market.
Antalpha seeks capital through IPO
As digital asset markets continue to mature, Antalpha aims to establish a stronger foothold by raising public capital. The initiative occurs when the world’s fintech companies are monitoring the public markets in the U.S.
A successful IPO would provide Antalpha with more negotiating power to expand its services and client base. The IPO process also enables the company to secure more institutional participants in crypto finance.
As it waits for its authorization, Antalpha will have to satisfy all the regulatory conditions of U.S. securities law. There was no specific date announced for the offering by the company. Meanwhile, it continues to sell the IPO to potential buyers. Market experts are observing as yet another digital asset issuer goes public.
