In a bold move, Nasdaq-listed Verb Technology (VERB) has secured approximately $558 million through a private placement led by Kingsway Capital. The firm will rebrand as TON Strategy Co. (TSC) and position itself as the first publicly traded treasury reserve manager dedicated to Toncoin ($TON)—the native asset powering the Telegram Open Network (TON) blockchain.

Main Highlights

  • Capital Raise & Rebrand Verb sold approximately 58.7 million shares at $9.51 each, attracting over 110 institutional and crypto-native investors. The company plans to complete the transition around August 7, 2025, at which point it will officially become TON Strategy Co.

  • TON Treasury Focus TSC will allocate the bulk of proceeds to acquire Toncoin, targeting about 5% of its circulating supply, making it one of the largest TON holders globally. The firm will also use staking strategies to generate potential 3–5% annual yield, creating sustainable Treasury returns.

  • Institutional Support & Lock-Up Major backers include Kingsway Capital, Vy Capital, Blockchain.com, Ribbit Capital, Graticule, and others. Approximately 36% of shares will be locked up for 6–12 months to ensure long-term alignment.

Why It Matters

  • Bridging TradFi & Crypto By offering an institutional-grade pathway to TON exposure via a U.S.-listed company, TSC marks a new paradigm in digital asset investment—mirroring Bitcoin treasury plays but focused on an altcoin with native utility.

  • Telegram Ecosystem Leverage TON powers key functions within the Telegram network—serving as the exclusive in-app payment rail for Ads, NFTs, and mini-apps across a user base exceeding 1 billion monthly. TSC’s move anchors its strategy around this real-world utility.

  • Valuation Upside Potential Analysts estimate that if TON rises to $5–$7 per token by end-2025, TSC’s treasury could see 40–100% value appreciation, boosted further by the compounding effect of staking yields.

Risks & Strategic Challenges

  • Market Volatility: As an altcoin-centric treasury company, TSC is exposed to TON’s price fluctuations and the broader crypto volatility landscape.

  • Regulatory Uncertainty: Establishing compliance and navigating evolving crypto governance frameworks remain critical variables for success.

  • Execution Complexity: The shift marks a substantive pivot from Verb’s prior social commerce operations into crypto treasury management.

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