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9h ago

AlphaTON to Build $100 Million Toncoin Treasury as Shares Rally and Nasdaq Ticker Changes to ATON

The rebranded Nasdaq company is funding the shift through a $38.2 million private placement plus a six-month, TON‑collateralized $35 million loan from BitGo Prime.

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Overview

  • The Nasdaq-listed firm, formerly Portage Biotech, plans to purchase about $100 million in Toncoin to anchor a corporate digital asset treasury.
  • Funding comprises a $38.2 million private placement plus a $35 million BitGo Prime loan collateralized by TON, repayable in six months.
  • The ticker is scheduled to switch from PRTG to ATON on Sept. 4, with the private placement expected to close around Sept. 5 subject to customary conditions.
  • Brittany Kaiser has been appointed chief executive officer, and Enzo Villani will serve as executive chairman as the company pivots to digital assets.
  • Shares rose roughly 14–15% after the announcement, as the firm outlined TON staking and validation plans and Telegram mini app incubation in a landscape that includes VERB accumulating a large TON position.