Antalpha Platform Holding (ANTA) said Friday it invested about $43 million in Prestige Wealth (PWM) in the latter's roughly $100 million private investment in public equity financing as lead investor.

The company said accredited investors, including Kiara Capital Holding and TG Commodities, invested $6 million and $15 million, respectively.

Antalpha said that after the transaction, it holds a stake of about 32.4% or about 73.1% of the voting rights, while Kiara holds a roughly 8.6% or about 18.9% of the voting rights in Prestige Wealth, based on Prestige Wealth's outstanding shares and assuming no PIPE warrants are exercised.

Prestige Wealth is expected to change its name to Aurelion, subject to approvals, and will trade under the new ticker symbol "AURE" starting Monday, Antalpha and Prestige Wealth said.

Prestige Wealth said in its separate statement that the PIPE and $140 million in proceeds if the PIPE warrants are fully exercised, together with $50 million from a senior debt facility, would result in gross proceeds of about $290 million.

Of these gross proceeds, Prestige Wealth said it expects to use $280 million to buy Tether Gold as its treasury reserve asset.

The company said that Bjorn Schmidtke, chairman and co-founder of South American bitcoin miner Penguin Group, will serve as its chief executive.

The company said that at the closing of the transactions, Kazuho Komoda resigned as its CEO, Zimuyin Jiang transitioned to chief accounting officer from chief financial officer and Wei Gao transitioned to head of private wealth management business from chief technology officer.

Antalpha shares were up almost 4% and Prestige Wealth shares surged more than 13% in recent trading activity.