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AlphaTON Launches $100 Million Toncoin Treasury, Switches Nasdaq Ticker to ATON

The Nasdaq-listed firm is funding the move via a $38.2 million private placement alongside a six-month BitGo Prime loan secured by TON.

Alphaton capital shares surge on ton treasury announcement
Nasdaq listed firm pivots to dat strategy with ton focus; scaramucci joins as advisor
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Overview

  • The rebranded company, formerly Portage Biotech, began trading as ATON on Sept. 4 as it pivots to a dedicated Toncoin treasury strategy.
  • Financing is expected to close around Sept. 5, with BitGo holding the TON collateral tied to the $35 million loan facility.
  • Brittany Kaiser was named CEO and Enzo Villani became executive chairman and chief investment officer as the firm reshapes leadership for its crypto focus.
  • AlphaTON plans to generate yield through staking and validation and to incubate mini-apps and DeFi projects within Telegram’s ecosystem.
  • Shares jumped intraday on the announcement, while Toncoin’s market price showed limited movement despite the $100 million plan and similar corporate accumulation by peers such as TON Strategy Co, which disclosed $713 million in TON and a $250 million buyback program.