Overview

• The financing combines a $100 million PIPE led by Antalpha with a $50 million senior debt facility, with TG Commodities (Tether) and Kiara Capital joining the round.
• Antalpha invested about $43 million, resulting in roughly 32.4% ownership and approximately 73.1% of the voting rights in the company.
• Trading under the new ticker AURE is expected to begin on October 13, 2025, subject to approvals, following the rebrand to Aurelion.
• Aurelion plans to concentrate its treasury in Tether Gold and may deploy around $280 million, including potential warrant proceeds, to acquire XAU₮ while targeting 50–100 bps in lending yield through Antalpha.
• Governance changes include incoming CEO Björn Schmidtke, two Antalpha board seats, and a new strategic advisory committee that will guide treasury policy and support expanded custody, liquidity, and physical redemption options.