Verb Technology has completed a $558 million private placement to initiate its TON Reserve Strategy

BlockBeats News, August 4th, according to market sources, Verb Technology (NASDAQ: VERB) announced today the pricing of its oversubscribed private investment in public equity (PIPE) transaction, which will drive the company's implementation of the TON reserve strategy. The company intends to rename itself as TON Strategic Company (TSC) and collaborate with Kingsway Capital to become the first publicly traded Toncoin (TON) reserve institution. Toncoin is the native cryptocurrency of the Telegram Open Network (TON) blockchain.

In this PIPE transaction, the company has reached agreements with institutions and accredited investors to issue approximately 58.7 million shares of common stock (including pre-funding warrants) at a price of $9.51 per share (based on the closing price on August 1, 2025), with an expected total fundraising amount of approximately $558 million. The transaction is expected to close around August 7, 2025, and the company will primarily use the net proceeds to acquire TON and hold it as a core reserve asset. This will position the company as one of the largest holders of $TON globally, generating positive cash flow through sustainable staking rewards and continuing to expand the TON reserve size. The company's existing business will continue to operate and expand.

BlockBeats previously reported that Manuel Stotz, founder and CEO of Kingsway Capital, revealed at the end of June that the institution's largest token holding to date is also TON, and this venture capital firm began purchasing TON tokens two years ago (earlier than Pantera Capital).

Bloomberg also reported on July 24 that the TON Foundation and Kingsway Capital plan to raise $400 million for the Toncoin treasury.