🤑 Verb Technology (Nasdaq: VERB) announced the closing of a private placement (PIPE) for $558 million to purchase Toncoin ($TON) and launch the first publicly traded TON treasury strategy.

ℹ️ The company plans to change its name to TON Strategy Co. and invest most of the funds in $TON. The deal attracted over 110 investors, including Kingsway Capital, Blockchain.com, and Vy Capital. The new board will be led by Manuel Stotz (Kingsway/TON Foundation), supported by executives with experience at Morgan Stanley, JP Morgan, and Blockchain.com.

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