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Verb Technology Poised to Rebrand as TON Strategy Co. After $558 Million Oversubscribed PIPE

The Nasdaq-listed firm expects to close the oversubscribed private placement by August 7, allocating most proceeds for Toncoin acquisitions with a plan to stake roughly 5% of the token’s circulating supply.

Forget Bitcoin: A Nasdaq firm just picked Toncoin as its treasury asset
Verb Technology secures $558 million to launch first publicly traded Toncoin treasury strategy
Toncoin, a cryptocurrency tied to Telegram
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Overview

  • The $558 million PIPE round was led by Kingsway Capital and backed by over 110 institutional and crypto-native investors including Vy Capital, Blockchain.com and Ribbit Capital.
  • Closing on or around August 7 will trigger Verb’s transition to TON Strategy Co. and establish it as the first publicly traded treasury reserve vehicle for Toncoin.
  • Most net proceeds will be used to purchase Toncoin, aiming to secure roughly 5% of its circulating supply and generate ongoing staking rewards for a cash flow–positive treasury model.
  • An incoming executive team will be headed by Manuel Stotz as Executive Chairman, with Veronika Kapustina as CEO, Sarah Olsen as CFO and Peter Smith as Special Advisor.
  • VERB shares have roughly doubled since the PIPE announcement as Toncoin’s price has dropped about 5% in recent trading.