Verb Technology (Nasdaq: VERB) has raised $558 million through an oversubscribed private placement to transition into TON Strategy Co. (TSC), the first publicly listed firm to adopt Toncoin (TON) as its primary treasury reserve asset.
The deal, priced at $9.51 per share, attracted over 110 institutional and crypto-native investors, including Kingsway Capital, Blockchain.com, and Ribbit Capital.
The rebranding marks a dramatic pivot from Verb’s previous operations to a bold new strategy centered on Toncoin acquisition, staking rewards, and long-term crypto treasury management.
Backed by Telegram’s rapid Web3 expansion, the move is designed to align TSC with the TON blockchain’s growing role within the messaging giant’s ecosystem.
Incoming Executive Chairman Manuel Stotz, who also leads Kingsway Capital, noted that Telegram’s global scale and TON’s yield potential make it an ideal long-term reserve asset.
The capital raise will enable TSC to potentially hold up to 5% of Toncoin’s total circulating supply, establishing it as a major institutional player in the TON ecosystem. The firm expects to generate sustainable returns via staking while maintaining and expanding its AI-driven video commerce operations.
The market reacted enthusiastically to Verb’s transformation, with shares surging 200% in a single trading session following the announcement. This sharp uptick indicates the growing investor appetite for crypto-linked equities and the perceived promise of TON’s deep integration with Telegram’s billion-user platform.
As traditional finance increasingly intersects with blockchain technology, TSC’s model could serve as a blueprint for future publicly listed crypto treasury companies looking to blend Web3 growth potential with mainstream investor accessibility.
Cover image from ChatGPT, TONUSD chart from Tradingview
