The funding will support the creation of the first public TON treasury reserve company with over 110 institutional and crypto investors.
Verb Technology Company, Inc. completed its $558 million private placement in partnership with Kingsway Capital. The transaction marks a significant step in Verb’s plan to become the first and largest publicly traded treasury reserve of TON, the native cryptocurrency of The Open Network (TON) blockchain.
The placement, which involved approximately 58.7 million shares of common stock, attracted participation from over 110 institutional and crypto-native investors. These included Kingsway, Vy Capital, and Blockchain.com.
“With the completion of this placement and strong backing from an exceptional list of investors, we are building a next-generation treasury platform to define a new category of digital asset reserves,” said Manuel Stotz, incoming Executive Chairman.
The majority of net proceeds will be used to acquire TON as the company’s primary treasury reserve asset, with plans to generate staking rewards and manage its holdings in a cash flow-positive manner.
Verb will also rebrand as TON Strategy Co. (TSC) to reflect its new focus while continuing to operate and expand its existing social commerce and video marketing businesses.
The acquisition strategy aims to position TSC as a pioneer in publicly listed crypto treasury reserves with TON at its core.
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