Verb Technology Raises $558 Million to Launch First TON Treasury Company

Verb Technology is set to rebrand as TON Strategy Co. after securing $558 million in an oversubscribed PIPE offering to establish the first publicly listed toncoin treasury. The move aligns with TON’s deep integration into Telegram’s ecosystem and positions Verb as a leading institutional holder of TON.

TON Strategy Company Set to Debut As Verb Secures $558 Million PIPE

Verb Technology Company Inc. (Nasdaq: VERB) has announced an oversubscribed private placement of approximately $558 million, marking a major strategic shift toward crypto treasury management. The company plans to rebrand as TON Strategy Co. (TSC) and become the first publicly traded company to hold toncoin as its primary reserve asset.

The financing, priced at $9.51 per share, attracted over 110 institutional and crypto-native investors, led by Kingsway Capital and supported by Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA).

“Telegram is the preferred messenger for the growing global crypto community, and TON is the currency that powers the Telegram ecosystem. Permanent capital vehicles are particularly suitable for long-term holdings of TON, meaning TSC can benefit from staking rewards,” said Manuel Stotz, incoming Executive Chairman.

Proceeds will fund the acquisition of toncoin, positioning TSC among the largest global TON holders. The strategy includes generating staking rewards to support a cash-flow-positive treasury model while maintaining and expanding Verb’s existing business operations.

With deep partnerships, including strategic backing from Blockchain.com, and leadership under Manuel Stotz, Founder & CEO of Kingsway Capital and President of the TON Foundation, Verb aims to capitalize on Telegram’s rapid web3 expansion.