Verb Technology, now known as TON Strategy Co., announced a $558 million private placement aimed at acquiring approximately 5% of Toncoin's circulating supply.
Rebranding and Fundraising
On October 17, 2023, Verb Technology announced a significant private placement of $558 million to establish the first publicly traded Toncoin treasury. This initiative is expected to reshape Toncoin's market positioning and provide new opportunities for institutional investors.
Market Impact
This financial move has already resulted in a more than 100% surge in VERB stock prices. This positions the company as a major holder of Toncoin, granting institutional investors access to this asset through the Nasdaq platform. The treasury funds are expected to be used for direct Toncoin acquisitions, potentially increasing TON's market cap.
Leadership Statement
Manuel Stotz, Executive Chairman of TON Strategy Co., stated, "With this private placement, we are setting a significant precedent for institutions looking to engage with the Toncoin ecosystem directly as a regulated investment vehicle."
Verb Technology's initiative to create the Toncoin treasury and its rebranding represents a significant step towards expanding institutional interest and fostering new investments within the TON ecosystem.
