Overview
- Verb Technology’s upsized and oversubscribed private placement raised $558 million to implement a Toncoin treasury strategy.
- On closing around August 7, the company will rebrand as TON Strategy Co. and become the inaugural publicly traded treasury reserve of Toncoin.
- The financing was led by Kingsway Capital and anchored by major investors such as Blockchain.com, Vy Capital, Ribbit Capital and Graticule (GAMA).
- The company plans to allocate the majority of net proceeds to acquire roughly 5% of Toncoin’s circulating supply and to stake holdings for yield.
- VERB shares surged roughly 100% after the announcement while Toncoin’s price fell 5–6% during broader market movements.