Antalpha Platform Holding Company (ANTA) stock is soaring 17.27% in intraday trading following its initial public offering (IPO) on the Nasdaq Global Market. The company, which priced its IPO at $12.80 per share, is seeing strong investor interest in its market debut.

The IPO, announced early Wednesday, involves approximately 3.9 million shares, aiming to raise about $49.3 million in gross proceeds. Antalpha has also granted underwriters a 30-day option to purchase up to 577,500 additional shares, which could potentially increase the total proceeds to $56.7 million if fully exercised.

Antalpha Platform stated that it plans to use the net proceeds from the offering for general corporate purposes, including product development and global expansion. This strategic move appears to have resonated well with investors, driving the significant uptick in the company's stock price. The offering is scheduled to close on Thursday, marking a successful entry into the public markets for Antalpha Platform.