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SINGAPORE - Antalpha Platform Holding Company, a crypto fintech firm specializing in liquidity and risk management solutions for institutional Bitcoin miners, has priced its initial public offering (IPO) at $12.80 per ordinary share. The company’s shares are slated to commence trading on the Nasdaq Global Market today under the ticker symbol ANTA. According to InvestingPro data, the company enters the market with impressive financial metrics, including a robust gross profit margin of 89.63% and significant revenue growth of 321% over the last twelve months.
The offering, which is expected to close tomorrow, subject to customary closing conditions, will see Antalpha releasing 3,850,000 ordinary shares. Additionally, the underwriters have been provided a 30-day option to purchase up to 577,500 additional shares to cover any over-allotments. InvestingPro analysis indicates the company is trading at a high Price/Book multiple of 5.98x, suggesting investors should carefully evaluate the valuation metrics. Two additional key InvestingPro Tips are available for subscribers, offering deeper insights into the company’s valuation dynamics.
Antalpha anticipates raising approximately $49.3 million from the IPO, which could increase to roughly $56.7 million if the over-allotment option is fully exercised, before accounting for underwriting discounts and offering expenses.
The net proceeds from the offering are earmarked for various corporate activities. These include investment in product development, sales and marketing, technology infrastructure, and capital expenditure. The company also plans to use the funds for global expansion, general and administrative matters, loan operations, and customer funding advances to enhance fund flow and improve customer experience. Additionally, Antalpha intends to invest in technologies, solutions, or businesses that complement its current operations, although it has not committed to any acquisitions or investments at this time.
A portion of the proceeds will also be allocated to Antalpha’s treasury management, specifically for investment in Bitcoin and digital gold.
Roth Capital Partners and Compass Point are acting as joint book-running managers for the IPO. The offering is made through a prospectus, which is part of a registration statement filed with and declared effective by the U.S. Securities and Exchange Commission (SEC).
Antalpha, known as the primary lending partner of Bitmain, facilitates supply chain and margin loans via its Antalpha Prime technology platform. This platform enables customers to originate and manage digital asset loans and monitor collateral positions with near real-time data.
The information regarding Antalpha’s IPO is based on a press release statement. Financial metrics show the company generated $47.45 million in revenue and $3.21 million in EBITDA over the last twelve months, maintaining a healthy current ratio of 1.05. For comprehensive analysis of Antalpha’s financial health and growth prospects, including additional valuation metrics and expert insights, visit InvestingPro.
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