Prestige Wealth Inc. signed and completed approximately $150 million in financing provided to the Aurelion treasury
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Prestige Wealth Inc. signed and completed approximately $150 million in financing provided to the Aurelion treasury
Launch Nasdaq's first Tether Gold treasury.
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Launch Nasdaq's first Tether Gold treasury
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Prestige Wealth Inc. (NASDAQ: PWM) to be renamed Aurelion Inc. (NASDAQ: AURE) (pending approval)
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Antalpha (NASDAQ: ANTA) leads $150 million financing
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Financing includes $100 million private placement and $50 million senior debt financing
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Björn Schmidtke to serve as Chief Executive Officer
Prestige Wealth Inc. (NASDAQ: PWM; AURE) (the "Company" or "Aurelion") today announced it has entered into and completed a series of coordinated transactions to launch Nasdaq's first Tether Gold (XAU₮) treasury.
The transactions include approximately $100 million in PIPE financing (the "PIPE") with lead investor Antalpha Platform Holding Company (NASDAQ: ANTA) (the "Antalpha") and other qualified investors, including TG Commodities S.A. de C.V. (the "Tether") and Kiara Capital Holding Limited (the "Kiara Capital"), an investment vehicle of Antalpha’s management team, and a three-year, $50 million senior debt financing (the "debt financing"). The Company intends to use substantially all of the net proceeds to acquire Tether Gold ("XAU₮") as treasury reserve assets.
Subject to requisite approvals, the Company (NASDAQ: PWM) is expected to change its name to "Aurelion Inc." and begin trading under the new ticker symbol (NASDAQ: AURE) starting Monday, October 13, 2025.
"I have long believed in Bitcoin and think we need a stablecoin that can hedge inflation and is stable enough to pay for everyday essentials like electricity bills. Some describe Bitcoin as digital gold; I believe Tether Gold (XAU₮), a redeemable stablecoin backed by physical gold, is true digital gold," said Björn Schmidtke, CEO of Aurelion and seasoned Bitcoin miner.
"Through the Aurelion treasury, we are setting a new standard: a publicly listed, fully backed, daily on-chain verifiable digital gold reserve. In a world where money flows digitally and markets remain volatile, having real value anchored in tokenized gold provides certainty for individuals and institutions. This is not about yield or finance—it’s about redefining how real wealth is held, transferred, and preserved in the digital age," Mr. Schmidtke continued.
"We are excited to collaborate with Tether, the world’s largest stablecoin company, to expand access to a trusted digital gold ecosystem. When people can walk into a jewelry store and exchange Tether Gold (XAU₮) for a gold bar, digital assets become truly tangible. Through the Antalpha Real World Assets Hub (Antalpha RWA Hub), we aim to deliver such innovative features and services to enhance liquidity and product offerings for Tether Gold (XAU₮)," said Paul Liang, CFO of Antalpha, parent company of Aurelion.
"Building on the foundation of the Antalpha RWA Hub, we are proud to lead the development of the Aurelion treasury—the first pure Tether Gold (XAU₮) treasury on Nasdaq—aimed at expanding access to tokenized gold, which holds strategic significance in the digital asset landscape. Individuals and institutions alike need a safe haven against inflation, currency devaluation, and crypto volatility. As a leading digital asset financing platform, Antalpha shares common interests with other top digital asset firms to strengthen our own balance sheets by holding significant gold reserves via Tether Gold (XAU₮), enhancing collateral resilience," added Mr. Liang.
Transaction Highlights
- $100 million PIPE financing (including cash and USDT contributions) attracted investors purchasing approximately 278 million units, each unit consisting of (i) one share of Class A common stock, Class B common stock, or pre-funded warrant exercisable at $0.36 per share (the "Share Purchase Price") for one share of common stock, and (ii) two warrants: a) one warrant exercisable at 130% of the Share Purchase Price for 0.5 shares of Class A or Class B common stock, b) another warrant exercisable at 150% of the Share Purchase Price for 0.5 shares of Class A or Class B common stock. Warrants for Class A common stock are immediately exercisable.
- The Aurelion treasury PIPE financing includes $43 million subscribed by lead investor Antalpha, $6 million by Kiara Capital, and $15 million by Tether.
- Total proceeds of approximately $290 million, including $50 million from debt financing, $100 million from PIPE financing, and $140 million from full exercise of warrants issued in the PIPE. Of this, $280 million is expected to be used to purchase Tether Gold (XAU₮).
- $50 million debt financing secured by a perfected first-priority lien on $67 million worth of Tether Gold (XAU₮) held by the Company, deposited into a controlled account.
- The debt financing matures 36 months after funding, with the Company able to repay early at any time without additional fees or penalties.
- Interest rate of 6% per annum, compounded monthly. The term loan may be extended upon mutual agreement.
Why Aurelion
- The Antalpha-led PIPE transaction establishes Aurelion as Nasdaq’s first pure Tether Gold (XAU₮) treasury, delivering yield, transparency, regulatory compliance, and daily on-chain verification.
- Aurelion combines the security of physical gold with the efficiency of blockchain to create a yield-generating digital treasury.
- The digital gold market exceeds $200 billion, primarily in ETFs, with only about 1% currently on blockchains.
- The Company believes there is strong demand for blockchain-based gold as a buffer against inflation and crypto volatility.
- Unlike traditional gold investments such as gold ETFs and bullion, which often involve expense ratios, custody fees, and potentially high transaction costs, Aurelion plans to generate leveraged returns through debt financing and earn yield on its unencumbered gold holdings.
- Aurelion plans to lend its unencumbered gold holdings to Antalpha as collateral to generate 50–100 basis points of annualized yield.
- Antalpha will bear all default risks arising from loans made to its end customers using this collateral.
Investor Confidence
- Lead investor Antalpha provides liquidity infrastructure and a solid foundation for building the Tether Gold (XAU₮) treasury.
- Aurelion plans to launch a digital treasury dashboard providing updates on Tether Gold (XAU₮) holdings, net asset value (NAV), and treasury metrics.
Leadership Update
The company will be led by experienced individuals:
- Chief Executive Officer: Björn Schmidtke, Chairman and Co-Founder of Penguin Group, South America’s leading Bitcoin mining firm, former McKinsey consultant, joining the company as CEO. Björn is a believer in tokenized gold and plans to leverage his community influence to better educate the world on the importance of Tether Gold (XAU₮) for holders of both crypto and fiat stablecoins.
- Management Changes: The following management changes take effect upon completion of the transaction: Kazuho Komoda resigns as CEO and board member; Zimuyin Jiang transitions from CFO to Chief Accounting Officer; Wei Gao transitions from CTO to Head of Private Wealth Management business—ensuring smooth business continuity.
- Board of Directors: Upon closing, Antalpha will have the right to nominate two directors to the company’s board.
- Strategic Advisory Committee: A Strategic Advisory Committee has been formed to advise the board on the treasury’s strategic direction, including Rohan Chauhan, Director of Strategy at Gemini.
Advisors
- Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, served as exclusive advisor to Antalpha and exclusive placement agent to the Company.
- Loeb & Loeb LLP served as legal counsel to the Company. Reed Smith LLP served as legal counsel to Antalpha.
- Ogier served as Cayman Islands legal counsel to the Company.
- Morgan Lewis served as legal counsel to Cohen & Company Capital Markets.
About Aurelion
Aurelion is Nasdaq’s first Tether Gold (XAU₮) treasury. It combines the stability of physical gold with the efficiency of blockchain, offering investors tokenized gold reserves as a safe haven against inflation, currency devaluation, and crypto volatility. Aurelion will continue its wealth and asset management services.
About Tether Gold (XAU₮)
Tether Gold (XAU₮) is a digital asset offered by TG Commodities S.A. de C.V. One full XAU₮ token represents one troy ounce of London Good Delivery gold bar. XAU₮ operates as an ERC-20 token on the Ethereum blockchain, enabling seamless trading or transfer around the clock. The gold backing XAU₮ is identifiable by unique serial number, purity, and weight, and is redeemable.
About Antalpha RWA Hub
Antalpha RWA Hub is Antalpha’s dedicated real-world asset (RWA) infrastructure platform, currently focused on providing liquidity and services for gold-backed RWAs.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this press release, other than statements of historical fact, are "forward-looking statements." These statements can be identified by words such as "expects," "intends," "plans," "provides," "aims," "targets," "seeks," "believes," "projects," "estimates," "anticipates," "forecasts," "assumes," "strives," "goals," "trends," "future," "potential," "may," "might," "should," "could," "will," and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include statements regarding the expected use of proceeds from the transactions, the implementation of the Company’s Tether Gold (XAU₮) treasury strategy, and the potential value for shareholders. These forward-looking statements are based on the Company’s expectations and assumptions as of the date of this press release. They are neither statements of historical fact nor guarantees of future performance. Rather, they reflect beliefs, expectations, and assumptions about the Company’s future business, future plans and strategies, anticipated events and trends, economic and other future conditions. Each forward-looking statement involves risks and uncertainties that could cause actual results or performance to differ materially from those expressed or implied in the forward-looking statement. Numerous factors could cause expectations to differ from actual results, including: macroeconomic conditions, high inflation, and uncertain credit and financial markets affecting the Company’s business and financial condition; changes in expected or existing competition; changes in the regulatory environment; unexpected litigation or other disputes; risks related to the new XAU₮ treasury initiative; risks that the Company’s stock price may be highly correlated with the price of XAU₮ it holds; risks associated with significant legal, commercial, regulatory, and technological uncertainties surrounding digital assets; risks related to the tax treatment of crypto assets in the U.S. and abroad; and overall market, political, and economic conditions in countries where the Company operates. Other factors that could cause actual results to differ from those implied or expressed in forward-looking statements in this press release are detailed under the "Risk Factors" section of the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (SEC) on February 13, 2025, in Appendix A of Exhibit 10.1 and 10.2 of the subscription agreements filed on Form 6-K with the SEC on October 10, 2025, and in other filings the Company may make with the SEC in the future. The Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of new information, future events, changes in circumstances, or otherwise, except as required by law.
Important Information
The issuance and sale of the securities described above were conducted in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D thereunder, and applicable state securities laws, exempt from registration requirements. Accordingly, the securities issued in the private placement may not be offered or sold in the United States absent an effective registration statement or exemption under the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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