Antalpha Platform Holding, a key lending partner to Bitmain, has begun the roadshow for its proposed initial public offering in the United States. The company plans to list on the Nasdaq Global Market under the ticker ANTA, offering 3,850,000 ordinary shares at an expected price range of $11.00 to $13.00 per share.
Based on that range, Antalpha could raise approximately $50.05 million before accounting for over-allotments and offering expenses. The company also expects to grant underwriters a 30-day option to purchase an additional 577,500 ordinary shares. If that over-allotment option is exercised in full, the total proceeds could increase to roughly $57.5 million.
F-1 Registration Filed With the SEC
Antalpha said it has filed a Form F-1 registration statement with the U.S. Securities and Exchange Commission in connection with the proposed offering. However, the filing has not yet been declared effective, meaning the shares cannot currently be sold and offers to buy cannot yet be accepted.
The deal is being led by Roth Capital Partners and Compass Point, which are serving as joint book-running managers. Their role includes marketing the offering to prospective investors during the roadshow process.
IPO Process Still Subject to Approval
The company noted that the announcement is being made pursuant to Rule 134 under the Securities Act of 1933 and does not constitute an offer to sell or a solicitation of an offer to buy securities. It also emphasized that no sale will take place in any jurisdiction where such an offer or sale would be unlawful before proper registration or qualification. For the crypto-finance sector, Antalpha’s public market push highlights how firms tied to the mining ecosystem are increasingly seeking capital through traditional equity markets.