Verb Technology successfully raised $558 million through a private placement to establish the first publicly traded Toncoin treasury company.
The company changed its name to TON Strategy Co. and aims to become one of the largest Toncoin holders in the world, using its primary asset, TON, to generate profits through staking.
MAIN CONTENT
Verb Technology completed the raising of $558 million through a private placement PIPE.
Renamed to TON Strategy Co. to focus on the development of Toncoin assets.
Over 110 organizations, including Kingsway Capital and Blockchain.com, participated in the investment.
How did Verb Technology raise capital to develop Toncoin?
Verb Technology (Nasdaq: VERB) completed the raising of approximately $558 million through a private investment in public equity (PIPE) program to establish the first public treasury company dedicated to Toncoin.
This is a strategic move to establish TON Strategy Co. (TSC), aiming to become an organization with a large Toncoin holding while generating profits from staking, reflecting a deep commitment to the cryptocurrency field.
The funding round received interest from over 110 institutional investors, demonstrating the project's reliability and growth potential in the international financial community.
Why did Verb Technology change its name to TON Strategy Co., and what is the role of the new company?
The company changed its name to focus comprehensively on the development and management of Toncoin assets, shaping its leading role in the cryptocurrency market.
TSC considers Toncoin as a primary reserve asset, leveraging staking opportunities for sustainable profit, reinforcing its position as one of the largest Toncoin holders globally.
This strategy helps the company fully leverage the advantages of the Proof of Stake (PoS) consensus mechanism on the Toncoin platform, generating stable income from DeFi activities.
The company is committed to sustainable development to optimize the value for the Toncoin community and investors through an effective staking strategy.
Statement from the CEO of Verb Technology, August 2024
Which organizations participated in the investment round, and what do they bring to the project?
The funding round attracted participation from over 110 investment organizations, including pioneering funds in finance and cryptocurrency such as Kingsway Capital, Vy Capital, and Blockchain.com.
The involvement of many reputable investors not only provides substantial financial resources but also increases transparency and reliability for the TON Strategy Co. project.
This lays the foundation for the company's strong development in the future, while also attracting additional strategic partners to enhance its position in the global cryptocurrency market.
Conclusion on the importance and impact of capital raising on the Toncoin market?
Successfully raising $558 million helps TON Strategy Co. solidify its position as one of the largest Toncoin holders, contributing to liquidity and market strength.
Significant capital flow along with an appropriate staking strategy is expected to yield sustainable profits for the company, thereby promoting the long-term development of the global Toncoin ecosystem.
This also acts as a driving force to enhance the confidence of investors and the cryptocurrency community in the growth potential and practical applications of Toncoin.
Frequently Asked Questions
How did Verb Technology raise capital?
Through a private placement PIPE program with a total value of $558 million, raised from over 110 investment organizations.
How will TSC use the raised capital?
Most of the capital is used to purchase Toncoin, which is utilized as a reserve asset and to generate profits through staking.
Who are the main investors participating in this funding round?
Kingsway Capital, Vy Capital, and Blockchain.com are prominent institutional investment funds participating.
What role does TSC play after changing its name from Verb Technology?
The company focuses on developing and managing Toncoin assets to become a major investor and generate sustainable profits from staking.
When is the capital raising transaction expected to be completed?
The expected transaction will conclude on August 7, 2024.
Source: https://tintucbitcoin.com/verb-technology-huy-dong-558-trieu-usd/
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