Technology firm Verb secures a whopping $558 million funds for its inaugural public strategy regarding the TON Treasury.
Verb Technology, an AI-powered video-based technology company, has announced a significant shift in its business strategy. The company has completed a $558 million private placement (PIPE transaction) aimed at establishing TON Strategy Co. (TSC), the first publicly traded treasury strategy company centered on Toncoin (TON), the native cryptocurrency of The Open Network blockchain integrated with Telegram.
Following this capital raise, TSC plans to rebrand as TON Strategy Co. (TSC) and shift its business model from its previous operations to become a treasury strategy company centered on accumulating and managing Toncoin assets.
Key details and future plans include:
- The capital raise was upsized and oversubscribed, with approximately 58.7 million shares sold to over 110 institutional and crypto-native investors, demonstrating strong confidence from well-known firms such as Kingsway Capital (leading the deal), Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA), among others.
- The company aims to build the first and largest publicly traded Toncoin treasury reserve, leveraging the unique position of TON as the blockchain powering Telegram's Mini App ecosystem, benefiting from Telegram’s nearly 1 billion monthly active users.
- The treasury will pursue sustainable revenue generation by earning staking rewards from its TON holdings, effectively creating a cash-flow positive treasury operation while maintaining exposure to the potential upside of Toncoin appreciation.
- Leadership has been augmented with blockchain and financial experts, including Executive Chairman Manuel Stotz (Founder & CEO of Kingsway Capital and President of the TON Foundation), supported by a strategic partnership with Blockchain.com, to ensure the expertise necessary for this innovative treasury strategy execution.
- The majority of the net proceeds from this offering will be allocated to acquiring TON coins, positioning TSC as one of the largest holders of the cryptocurrency globally.
- The transaction is expected to close on or around August 7, 2025, subject to customary conditions.
- Upon completion of the PIPE transaction, TSC is expected to have a portion of its share capital subject to lock-up agreements.
- Creators on Telegram will be able to withdraw rewards directly using Toncoin.
- The new treasury strategy will take effect immediately after the closing of the transaction.
This strategic move comes after the announcement that TON would become the exclusive blockchain for Telegram. This partnership allows millions of Telegram users to utilize Toncoin seamlessly within the social media app, making it the primary payment method for Telegram Ads.
When compared to its highest paid price of $8.25 per coin, TON is trading nearly 60% below its record price, according to CoinGecko data. However, TON's price has retraced toward $3.38, representing a 5% retrace in the 24-hour time frame.
This transformation of Verb Technology into TON Strategy Co. (TSC) signifies a major institutional entry into the TON ecosystem and crypto treasury management space. TSC anticipates significant cash reserves to support the growth of its TON treasury post-launch.
TON Strategy Co. (TSC), formerly Verb Technology, has rebranded following a successful $558 million fundraise and intends to focus on building the largest publicly traded Toncoin treasury reserve, leveraging Telegram's nearly 1 billion monthly active users. TSC aims to generate sustainable revenue through staking rewards and has brought on blockchain and financial experts as part of its leadership team, positioning itself as a significant player in the TON ecosystem and crypto treasury management space.
