Bloomberg: Tether plans to raise $15 billion to $20 billion through private placement

According to Foresight News, stablecoin issuer Tether Holdings SA is in talks with investors to raise up to $20 billion in funding, a deal that could push the cryptocurrency company to the world’s most valuable private companies, according to Bloomberg. Tether is planning to raise $15 billion to $20 billion through a private placement in exchange for about 3% of the equity, according to two people familiar with the matter.

Another person involved in the process warned that these are just the top goals and the final numbers could be much lower. The person, who was not authorized to speak publicly, said the negotiations are still in its early stages and details of the proposed investment may be adjusted. The deal could value the company at about $500 billion. The deal will involve new equity rather than existing investors selling their shares, people familiar with the matter said. They added Cantor Fitzgerald will serve as chief consultant. Potential investors have been allowed to enter the data room over the past few weeks to decide whether to participate in the new round of financing, people familiar with the matter said. They expect the deal to be completed by the end of the year.

Tether’s digital assets and U.S. strategy adviser Bo Hines said in an interview at a conference in Seoul on Tuesday that Tether has no financing plans. Other representatives of Tether have not commented. A Cantor spokesman declined to comment.

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