Prestige Wealth completes $150 million financing for Tether Gold treasury

Prestige Wealth Inc. (NASDAQ: AURE) announced it closed approximately $150 million in financing to establish what it describes as NASDAQ's first Tether Gold treasury operation. The financing consists of a $100 million private placement and a $50 million senior debt facility.

Antalpha Platform Holding Company (NASDAQ: ANTA) served as the anchor investor with approximately $43 million in the private placement. Other investors include Tether Investments for $15 million and Kiara Capital Holding Limited for $6 million. The company plans to use the majority of proceeds to acquire Tether Gold (XAU₮) tokens as treasury reserve assets.

The private placement involved the sale of approximately 278 million units at $0.36 per share, with each unit including one share and two warrants with exercise prices at 130% and 150% of the share price. The $50 million debt facility carries a 6% annual interest rate and matures in 36 months, secured by $67 million worth of Tether Gold held in a controlled account.

Prestige Wealth plans to rename itself Aurelion Inc., subject to approvals, and expects the new name to take effect beginning October 13, 2025. Björn Schmidtke, chairman and co-founder of Penguin Group, will serve as CEO replacing Kazuho Komoda, who resigned from the position and board.

Tether Gold tokens represent ownership of physical gold stored in vaults, with each token backed by one troy ounce of gold on a London Good Delivery bar. The tokens trade on the Ethereum blockchain as ERC-20 tokens and can be redeemed for physical gold.

The company stated it plans to generate yield on its gold holdings by providing unencumbered gold as collateral to Antalpha for lending activities, targeting annualized returns of 50-100 basis points. Cohen & Company Capital Markets served as exclusive placement agent for the transaction.

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