Prestige Wealth (PWM) Soars 12.5% on Strategic Overhaul $150M Financing Deal

Prestige Wealth (PWM) surged 12.50% on Thursday, extending its three-day winning streak as its shares hit a peak not seen since October 2025. The stock’s intraday gain of 40.38% marked a dramatic rebound, with cumulative gains reaching 40.78% over the past three trading days.

The rally coincided with a strategic overhaul of the company, which announced a $150 million financing package led by Antalpha and Tether. The transactions—comprising a $100 million private placement and a $50 million senior debt facility—signal a pivot toward becoming a publicly traded digital gold treasury platform. By acquiring Tether Gold (XAU₮), a tokenized gold stablecoin, the firm aims to bridge traditional gold investments with blockchain-driven transparency and efficiency.

Leadership changes further underscored the shift. Björn Schmidtke, a former McKinsey executive with a background in Bitcoin mining, was appointed CEO, emphasizing a focus on digital gold as an inflation hedge. The transition aligns with growing demand for stable assets in volatile markets, leveraging Tether’s infrastructure to enable real-time on-chain verification of gold holdings. This move differentiates the company from conventional gold ETFs, which often face criticism for opaque custody arrangements.

Antalpha’s involvement, including its right to nominate two board directors, highlights institutional confidence in the new model. The debt facility, secured by $67 million in XAU₮, provides flexibility while minimizing risk. Meanwhile, the firm plans to generate yield by lending unencumbered gold to Antalpha, offering annualized returns of 50–100 basis points. Such financial engineering could attract yield-focused investors and institutional capital.

Despite the strategic clarity, risks remain. Macroeconomic volatility and regulatory uncertainties in the digital asset space pose challenges. However, the company’s alignment with major players like Tether and Antalpha, coupled with its innovative treasury model, positions it to capitalize on the underpenetrated tokenized gold market. The stock’s performance reflects investor optimism about its repositioning, though future gains will depend on execution and market conditions.