STOCK TITAN

Tether fund’s $150M Gold.com (AMRK) PIPE delivers 11.8% stake and board seat

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Tether Global Investments Fund, TPM, S.A. de C.V. and Giancarlo Devasini now report beneficial ownership of 3,370,787 shares of Gold.com, Inc. common stock, representing 11.8% of the company. The stake was acquired for $150 million in a two‑tranche private placement at $44.50 per share, structured as PIPE Financing. The first tranche covered 2,840,449 shares for $126.4 million, and the second 530,338 shares for $23.6 million.

The investors state they acquired the position with the intent to exercise control and actively participate in Gold.com’s management and strategy. An Investor Rights Agreement allows TPM, while holding at least 5% of outstanding shares, to nominate board members in proportion to its stake, currently one director, with nominee Juan Jose Sartori joining the board. Gold.com used $20 million of the proceeds to acquire Tether’s gold‑backed stablecoin XAUT and entered related gold storage, metals leasing and trading arrangements.

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Insights

Tether-linked investors take an 11.8% PIPE stake in Gold.com with board rights.

Tether Global Investments Fund, its subsidiary TPM, and Giancarlo Devasini disclose beneficial ownership of 3,370,787 Gold.com shares, or 11.8% of the common stock. The position comes from a $150 million PIPE at $44.50 per share, in two tranches closed on February 6, 2026 and May 5, 2026.

The filing states the stake was acquired with the intent to exercise control and to participate actively in management and strategic direction. An Investor Rights Agreement grants TPM board nomination rights while it holds at least 5% of outstanding shares, currently one seat filled by Juan Jose Sartori effective March 16, 2026.

The PIPE price reflects an 11.9% discount to the 10‑day volume weighted average price as of February 4, 2026. Gold.com also agreed to use $20 million of proceeds to purchase XAUT, Tether’s gold‑backed stablecoin, and to enter commercial arrangements for gold storage, metals leasing and trading, tying part of its capital structure and operations to Tether‑related products.

Beneficial ownership 3,370,787 shares Gold.com common stock held by reporting persons
Ownership percentage 11.8% of common stock Based on 25,296,992 shares outstanding plus PIPE shares
PIPE size $150 million Aggregate purchase price for 3,370,787 shares
Purchase price per share $44.50 per share Price paid in Securities Purchase Agreement
First tranche amount 2,840,449 shares; $126.4 million Closed February 6, 2026
Second tranche amount 530,338 shares; $23.6 million Closed May 5, 2026 after HSR waiting period termination
Baseline shares outstanding 25,296,992 shares Gold.com common stock outstanding as of January 30, 2026
Proceeds allocated to XAUT $20 million Used to acquire Tether’s gold-backed stablecoin XAUT
PIPE Financing financial
"in connection with a $150 million private placement of equity securities (the "PIPE Financing")"
Pipe financing is a way for companies to raise money quickly by selling new shares or bonds directly to investors, often before their stock is publicly traded or in the early stages of a project. It’s similar to a company securing a loan from investors, providing quick capital needed for growth or operations. For investors, it can offer opportunities for early involvement and potentially higher returns, but it may also carry increased risk due to the immediate nature of the deal.
Investor Rights Agreement financial
"In connection with the PIPE Financing, the Company and TPM entered into an Investor Rights Agreement (the "IRA")."
A legally binding contract between a company and its investors that spells out investors’ core protections and privileges—such as voting rights, how and when shares can be sold, information access, and steps for resolving disputes. Think of it like a rulebook or homeowner association agreement for ownership: it clarifies who gets a say, how value can be realized, and what protections exist if things go wrong, making investment risks and expectations clearer for shareholders.
Hart-Scott-Rodino Act of 1976 regulatory
"closed on May 5, 2026, for an aggregate purchase price of $23.6 million, following the early termination of the waiting period under the Hart-Scott-Rodino Act of 1976."
A U.S. law that requires companies to notify federal regulators and wait for review before completing large mergers or acquisitions. Think of it like asking for a city permit before a major renovation: the review checks whether the deal would hurt competition, and it can delay, alter or block transactions. Investors care because that review creates legal risk and timing uncertainty that can change a deal’s value or whether it happens at all.
volume weighted average price financial
"This price represents an 11.9% discount to the 10-day volume weighted average price of the Common Shares on the NYSE"
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
piggyback registration rights regulatory
"including certain customary demand and piggyback registration rights."
A contractual right that lets existing shareholders join a company’s planned public sale of stock so they can sell their own shares at the same time under the same paperwork. It matters to investors because it gives insiders and early holders an easier, often faster way to convert shares to cash, while also potentially increasing the number of shares offered and affecting the share price — like catching a scheduled bus instead of hiring a private ride to get where you need to go.
gold-backed stablecoin financial
"the Company used $20 million of the proeeds of the sale of shares to acquire XAUT, Tether's gold-backed stablecoin"





00181T107

(CUSIP Number)
Tether Global Investments Fund
Final Av. La Revolucion, Edif. Centro, Corporativo Presidente Plaza, Nivel 12
San Salvador, H3, 00000
4420 4621 1793

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
05/05/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
Note in relation to Items 8, 10 and 11: Includes 3,370,787 Common Stock, par value $0.01 per share, of Gold.com, Inc. held by TPM, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. (f/k/a Tether Holdings, S.A. de C.V.). Note in relation to Item 13: This percentage is calculated based upon 25,296,992 shares of Common Stock reported as issued and outstanding as of January 30, 2026, in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on February 6, 2026, together with 3,370,787 shares of Common Stock issued to TPM, S.A. de C.V.


SCHEDULE 13D




Comment for Type of Reporting Person:
Note in relation to Items 8, 10 and 11: Includes 3,370,787 Common Stock, par value $0.01 per share, of Gold.com, Inc. held by TPM, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. (f/k/a Tether Holdings, S.A. de C.V.). Note in relation to Item 13: This percentage is calculated based upon 25,296,992 shares of Common Stock reported as issued and outstanding as of January 30, 2026, in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on February 6, 2026, together with 3,370,787 shares of Common Stock issued to TPM, S.A. de C.V.


SCHEDULE 13D




Comment for Type of Reporting Person:
Note in relation to Items 8, 10 and 11: Includes 3,370,787 Common Stock, par value $0.01 per share, of Gold.com, Inc. held by TPM, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. (f/k/a Tether Holdings, S.A. de C.V.). Note in relation to Item 13: This percentage is calculated based upon 25,296,992 shares of Common Stock reported as issued and outstanding as of January 30, 2026, in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on February 6, 2026, together with 3,370,787 shares of Common Stock issued to TPM, S.A. de C.V.


SCHEDULE 13D


Tether Global Investments Fund, S.I.C.A.F., S.A.
Signature:/s/ Omar Rossi
Name/Title:Omar Rossi, Sole Administrator
Date:05/07/2026
TPM, S.A. de C.V.
Signature:/s/ Juan Jose Sartori
Name/Title:Juan Jose Sartori, Sole Administrator
Date:05/07/2026
Giancarlo Devasini
Signature:/s/ Giancarlo Devasini
Name/Title:Giancarlo Devasini, individually
Date:05/07/2026

FAQ

What stake do Tether Global Investments Fund and affiliates hold in Gold.com (AMRK)?

Tether Global Investments Fund, TPM, S.A. de C.V., and Giancarlo Devasini beneficially own 3,370,787 shares of Gold.com common stock, representing 11.8% of outstanding shares. This percentage is based on 25,296,992 shares outstanding plus the 3,370,787 PIPE shares issued to TPM.

How large is the PIPE investment in Gold.com disclosed in this Schedule 13D/A?

The reporting persons invested $150 million in a private placement at $44.50 per share. The first tranche was 2,840,449 shares for $126.4 million, and the second tranche 530,338 shares for $23.6 million, completed after Hart-Scott-Rodino waiting period termination.

What governance rights did TPM obtain in Gold.com (AMRK) through the Investor Rights Agreement?

While TPM holds at least 5% of Gold.com’s outstanding shares, it may nominate board members in proportion to its holdings, rounded down but not less than one seat. Currently TPM is entitled to one director, with nominee Juan Jose Sartori serving as a board member effective March 16, 2026.

How were the proceeds from Gold.com’s PIPE with TPM, S.A. de C.V. used?

Under the Purchase Agreement, Gold.com used $20 million of the PIPE proceeds to acquire XAUT, Tether’s gold-backed stablecoin. The parties also entered additional commercial arrangements covering gold storage, metals leasing and trading, aligning part of Gold.com’s activities with Tether-related gold products.

At what price did TPM purchase Gold.com common stock in this transaction?

All 3,370,787 Gold.com common shares were purchased at $44.50 per share. This PIPE price represents an 11.9% discount to the 10-day volume weighted average price of the company’s common shares on the New York Stock Exchange as of market close on February 4, 2026.

What is the stated purpose of Tether Global Investments Fund’s investment in Gold.com?

The reporting persons state they acquired their 11.8% stake with the intent to exercise control of Gold.com. They plan to participate actively in management and strategy and may increase or decrease their holdings over time, depending on price, developments, opportunities and market conditions.