Techub News reports that NASDAQ-listed company Verb Technology Company has completed a $558 million private placement 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, among others. The company plans to immediately begin using most of the net proceeds from PIPE transactions to acquire TON and will treat it as the company's primary financial reserve asset. In addition, the company also plans to change its name to TON Strategy Co.