Aether plans $40 million offering, to use 85% for bitcoin purchases

NEW YORK - Aether Holdings, Inc. (NASDAQ:ATHR), a financial technology holding company with a market capitalization of $158 million, announced Monday it has commenced an underwritten public offering of units with expected gross proceeds of approximately $40 million. According to InvestingPro data, the company’s stock has shown remarkable momentum, delivering a 127% return over the past six months, though it currently trades at $13.06 with a weak financial health score.

According to the press release statement, the company plans to use about 85% of the net proceeds to acquire bitcoin as part of a recently adopted bitcoin treasury strategy, with the remaining 15% allocated for working capital. This move comes as InvestingPro analysis reveals the company’s current ratio of 0.38, indicating potential liquidity challenges that this capital raise might help address.

Each unit will consist of one share of common stock and one publicly traded warrant to purchase one share of common stock. The company will also offer pre-funded units consisting of one pre-funded warrant to purchase one share of common stock and one common warrant.

The offering is expected to price after market close on July 22, 2025, with closing anticipated around July 24, 2025, subject to customary conditions. Aether has applied to list the common warrants on the Nasdaq Capital Market under the symbol "ATHRW."

The Benchmark Company LLC and Axiom Capital Management, Inc. are acting as representatives to the underwriters for the offering.

Aether Holdings describes itself as an emerging financial technology holding company that offers software, data, and artificial intelligence technology to institutional and self-directed investors.

A registration statement for the securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective, meaning the securities cannot be sold nor offers to buy accepted until the registration statement becomes effective. For investors considering this offering, InvestingPro subscribers can access additional insights, including 8 more key investment tips and detailed valuation metrics to make informed investment decisions.

In other recent news, Aether Holdings, Inc. has made significant strides in expanding its reach and strengthening its governance framework. The company, through its subsidiary Alpha Edge Media, has acquired AltcoinInvesting.co, a digital asset research publication. This acquisition marks Aether’s strategic entry into the digital asset content space, complementing its existing financial newsletter platforms. The transaction, which was completed in cash, includes AltcoinInvesting.co’s operational assets, intellectual property, and subscriber base, although the financial terms were not disclosed.

In addition to this acquisition, Aether Holdings has formalized compensation and indemnification agreements with its independent directors. These agreements, detailed in a recent 8-K filing with the Securities and Exchange Commission, include an annual fee of $30,000 for directors, with additional compensation for those serving as board committee chairs. The indemnification agreements provide protection against certain expenses and liabilities, aligning with Delaware state law and the company’s corporate governance documents.

These developments reflect Aether Holdings’ commitment to enhancing its corporate governance standards and expanding its media presence. The acquisition of AltcoinInvesting.co aligns with Aether’s strategy to invest in niche media properties, serving research-focused, self-directed investors across various asset classes.

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