VERB raises $558 million, becoming the first public company with TON reserves

Verb Technology Company (Nasdaq: VERB) announced the raising of $558 million through a private placement of shares, marking a significant event for the company and the blockchain ecosystem. These funds will be used to acquire Toncoin ($TON ), the native cryptocurrency of The Open Network (TON), an exclusive partner of Telegram with over 1 billion active users. The company plans to rebrand as TON Strategy Co. (TSC), creating the first publicly traded company with reserves of Toncoin.

The deal, led by Kingsway Capital, attracted over 110 institutional and crypto investors, including Vy Capital, Blockchain.com, and Ribbit Capital. VERB will sell 58.7 million shares at a price of $9.51 per share, reflecting the market price as of August 1, 2025. After the deal closes on August 7, VERB will become one of the largest holders of $TON, controlling approximately 5% of the circulating supply. The company will also introduce new leadership headed by Manuel Stotz, the founder of Kingsway Capital and president of TON Foundation.

This move highlights the growing integration of TON into the global financial system, leveraging the popularity of Telegram. VERB aims to ensure transparency and compliance in its operations, which could serve as a model for other companies.

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