Prestige Wealth Inc. (NASDAQ: PWM; AURE) (referred to as "the Company" or "Aurelion") today announced that it has signed and completed a series of collaborative transactions to launch the first Tether Gold (XAU₮) treasury on Nasdaq.
These transactions include approximately $100 million in PIPE financing (referred to as "PIPE") led by the principal investor Antalpha Platform Holding Company (NASDAQ: ANTA) (referred to as "Antalpha") and other qualified investors, including TG Commodities S.A. de C.V. (referred to as "Tether") and Kiara Capital Holding Limited (referred to as "Kiara Capital"), which is managed by Antalpha's management. Additionally, there is a three-year senior debt financing of $50 million (referred to as "debt financing"). The Company plans to use most of the net proceeds to acquire Tether Gold (“XAU₮”) as part of its treasury reserve assets.
Upon receiving the necessary approvals, the Company (NASDAQ: PWM) expects to change its name to "Aurelion Inc." and will begin trading under a new stock code (NASDAQ: AURE) starting October 13, 2025 (Monday).
"I have a long-term positive outlook on Bitcoin and believe we need a stablecoin that can combat inflation and is stable enough to be used for everyday necessities like paying electricity bills. Some people describe Bitcoin as digital gold; however, I believe Tether Gold (XAU₮), a redeemable stablecoin backed by gold, is the true digital gold," said Aurelion CEO and veteran Bitcoin miner Björn Schmidtke.
"Through the Aurelion treasury, we are setting a new standard: a publicly listed, fully backed, and verifiable on-chain gold digital reserve. In a world where capital is digitized and markets are continuously volatile, having a real value base in the form of tokenized gold can provide certainty for individuals and institutions. This is not about returns or finance: it’s about redefining the way we hold, transfer, and preserve real wealth in the digital age," Mr. Schmidtke continued.
"We are excited to partner with Tether, the largest stablecoin company in the world, to expand a trusted digital gold ecosystem. When people can walk into a jewelry store and exchange Tether Gold (XAU₮) for a gold bar, digital assets will become much more accessible. We hope to provide new features and services like this through the Antalpha Real World Asset Hub (Antalpha RWA Hub) to increase the liquidity and product supply of Tether Gold (XAU₮)," said Paul Liang, CFO of Antalpha, Aurelion's parent company.
"Building on the Antalpha Real World Asset Hub, we are pleased to lead the establishment of the Aurelion treasury—this is Nasdaq's first pure Tether Gold (XAU₮) treasury, aimed at increasing access to tokenized gold, which holds significant strategic importance in the digital asset world. Both individuals and institutions need a safe haven to guard against inflation, currency devaluation, and cryptocurrency volatility. As a leading digital asset financing platform, Antalpha shares common interests with other leading digital asset companies in strengthening our own asset balance sheet by holding substantial gold reserves through Tether Gold (XAU₮) to enhance collateral resilience," Mr. Liang added.
Transaction Highlights
The $100 million PIPE financing (including cash and USDT contributions) attracted investors to purchase approximately 278 million units, each unit consisting of (i) one share of Class A common stock, Class B common stock, or a pre-funded warrant to purchase one share of common stock at a purchase price of $0.36 per share ("Share Purchase Price"), and (ii) two warrants, where a) one warrant can purchase 0.5 shares of Class A or Class B common stock at an exercise price of 130% of the Share Purchase Price, and b) another warrant can purchase 0.5 shares of Class A or Class B common stock at an exercise price of 150% of the Share Purchase Price. The warrants for purchasing Class A common stock can be exercised immediately.
The PIPE financing for the Aurelion treasury includes approximately $43 million subscribed by leading investor Antalpha, along with other qualified investors, including $6 million from Kiara Capital and $15 million from Tether.
Total proceeds are approximately $290 million, which includes $50 million from debt financing, about $100 million from PIPE financing, and $140 million from the full exercise of warrants issued in the PIPE. Of this, approximately $280 million is expected to be used to purchase Tether Gold (XAU₮).
The $50 million debt financing will be secured by a first-priority perfected lien on the $67 million worth of Tether Gold (XAU₮) held by the Company, which will be stored in a controlled account.
The debt financing matures 36 months after funding, and the Company can repay it early at any time without incurring any additional fees or penalties.
The annual interest rate is 6%, compounded monthly. The term loan may be extended by mutual agreement.
Why Choose Aurelion
The PIPE transaction led by Antalpha makes Aurelion the first pure Tether Gold (XAU₮) treasury on Nasdaq, offering yield, transparency, regulatory compliance, and daily on-chain verification.
Aurelion combines the security of physical gold with the efficiency of blockchain to create a digital treasury that generates yield.
The market for digital gold has surpassed $200 billion, primarily existing in ETF form, with only about 1% currently on the blockchain.
The Company believes there is strong market demand for gold on the blockchain as a tool to buffer against inflation and cryptocurrency volatility.
Unlike traditional gold investment methods such as gold ETFs and bullion, which typically come with fee rates, custody fees, and potentially high transaction costs, Aurelion plans to generate leveraged returns through debt financing and utilize its unencumbered gold holdings to create yield.
Aurelion plans to provide its unencumbered gold holdings to Antalpha as collateral to generate an annualized yield of 50-100 basis points.
Antalpha will assume all default risks arising from using this collateral to provide loans to its end clients.
Investor Confidence
Principal investor Antalpha provides liquidity infrastructure and a solid foundation to build the Tether Gold (XAU₮) treasury.
Aurelion plans to launch a digital treasury dashboard that provides updates on Tether Gold (XAU₮) holdings, net asset value (NAV), and treasury metrics.
Leadership Update
The Company will be led by experienced individuals:
CEO: Björn Schmidtke, Chairman and Co-Founder of Penguin Group, a leading Bitcoin mining company in South America, previously worked at McKinsey, and now joins the Company as CEO. Björn is a proponent of tokenized gold and plans to leverage his community influence to better educate the world on the importance of Tether Gold (XAU₮) for holders of cryptocurrencies and fiat stablecoins.
Management Changes: The following management changes will take effect upon the 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, ensuring a smooth continuation of the business.
Board of Directors: Upon completion of the transaction, Antalpha has the right to nominate two directors to the Company's board.
Strategic Advisory Committee: A strategic advisory committee has been established to advise the board on the strategic direction of the Company's treasury, with members including Rohan Chauhan, Strategic Director at Gemini.
Advisors
Cohen & Company Securities, LLC's Cohen & Company Capital Markets serves as the exclusive advisor to Antalpha and the exclusive placement agent for the Company.
Loeb & Loeb LLP serves as the legal advisor to the Company. Reed Smith LLP serves as legal advisor to Antalpha.
Ogier serves as the legal advisor to the Company in the Cayman Islands.
Morgan Lewis serves as legal advisor to Cohen & Company Capital Markets.
About Aurelion
Aurelion is the first Tether Gold (XAU₮) treasury on Nasdaq. It combines the stability of physical gold with the efficiency of blockchain, providing investors with a tokenized gold reserve that can serve as a hedge against inflation, currency devaluation, and cryptocurrency volatility. At the same time, Aurelion will continue its wealth management and asset management services.
About Tether Gold (XAU₮)
Tether Gold (XAU₮) is a digital asset provided by TG Commodities S.A. de C.V. One complete XAU₮ token represents one troy ounce of London Good Delivery gold. XAU₮ operates as an ERC-20 token on the Ethereum blockchain, allowing for easy trading or transfer at any time. The gold corresponding to XAU₮ can be identified by its 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 real-world assets.
Forward-Looking Statements
This press release contains "forward-looking statements" as defined by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Except for historical facts, all statements in this press release are "forward-looking statements." These statements can be identified by words such as "anticipate," "aspire," "intend," "plan," "provide," "target," "aim," "potential," "seek," "believe," "project," "estimate," "expect," "forecast," "assume," "strategy," "goal," "trend," "future," "may," "might," "should," "can," "will," and their variations or similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these words. The forward-looking statements in this press release include statements regarding the expected use of proceeds from the transaction, the implementation of the Company's Tether Gold (XAU₮) treasury strategy, and the potential value it may bring to shareholders. These forward-looking statements are based on the Company's expectations and assumptions as of the date of this press release. These statements are neither historical facts nor guarantees of future performance. Instead, they are based solely on current beliefs, expectations, and assumptions regarding the future of the relevant business, future plans and strategies, forecasts, anticipated events and trends, economic and other future conditions. Each forward-looking statement involves risks and uncertainties that may cause the Company's actual results or performance to differ materially from those expressed or implied in the forward-looking statements. Many factors could cause current expectations to differ from actual results, including: macroeconomic conditions, high inflation, and the impact of uncertain credit and financial markets on the Company's business and financial condition; changes in expected or existing competition; changes in the regulatory environment; unexpected litigation or other disputes; risks associated with the new XAU₮ treasury plan; risks related to the Company's stock price potentially being highly correlated with the price of XAU₮ it holds; risks associated with significant legal, commercial, regulatory, and technological uncertainties prevalent in digital assets; risks related to the tax treatment of crypto assets in the U.S. and abroad; and the overall market, political, and economic conditions in the countries where the Company operates. Other factors that could cause the Company's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed under the "Risk Factors" heading in the Company's annual report on Form 20-F submitted to the U.S. Securities and Exchange Commission (SEC) on February 13, 2025, as well as in Appendix A of the subscription agreement templates in Attachments 10.1 and 10.2 submitted to the SEC on October 10, 2025, and in other future documents the Company files with the SEC. The Company expressly states that, unless required by law, it has no obligation to update any forward-looking statements contained herein due to new information, future events, changes in circumstances, or other reasons.
Important Information
The issuance and sale of the aforementioned securities are conducted in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), and/or Regulation D thereunder, as well as applicable state securities laws, and are exempt from registration requirements. Therefore, unless exempt from registration under an effective registration statement or applicable Securities Act and related state securities law registration requirements, the securities issued in the private placement may not be offered or sold within the United States. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and no securities may be sold in any jurisdiction where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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