Verb Technology Completes $558 Million Private Financing, Proceeds Used to Establish TON Reserves

Nasdaq-listed Verb Technology Company announced the completion of a $558 million private financing, led by Kingsway, with participation from Vy Capital, Blockchain.com, Ribbit Capital and Graticule (GAMA), CMCC Global, Pantera, ParaFi Capital, Luxor Capital, Arrington Capital, Animoca, Kraken, Primitive Ventures, BitGo, FalconX, Orbs Group, The Open Platform (TOP), TVM Ventures, Kenetic, Hivemind Capital, UNCAP, Pacific Coast Venture Partners, and Ethena Labs founder Guy Young.

The company plans to immediately begin using most of the net proceeds from PIPE transactions to acquire TON, and will use it as the company's primary financial reserve asset. Additionally, the company plans to change its name to TON Strategy Co.