Catenaa, Wednesday, August 06, 2025- Nasdaq-listed social commerce firm Verb Technology plans to raise $558 million in a private placement, reports said.
Once closed it will become the first publicly traded company to hold Toncoin (TON) as its primary treasury asset.
Following the transaction’s expected closing around August 7, the company will rebrand as TON Strategy Co.
The private investment in public equity (PIPE) deal involves selling approximately 58.7 million shares at $9.51 each, with backing from more than 110 institutional and crypto-native investors.
Kingsway Capital leads the round, with participation from Blockchain.com, Ribbit Capital, Vy Capital, and others including Pantera, Animoca, and Kraken.
Verb intends to allocate most proceeds to acquiring TON and generating staking rewards, aiming to be among the largest holders of the token globally.
The company said about 77% of funds raised will be held in cash, while its TON holdings will represent around 5% of the circulating supply’s market value. Approximately 36% of the company’s shares will be locked up for six to 12 months.
Toncoin powers The Open Network blockchain, Telegram’s native web3 infrastructure. Telegram integrates TON for mini apps, tokenized usernames, and payments for Telegram Ads, with over 1 billion monthly users worldwide.
