Verb Technology Announces Pricing Of Upsized And Oversubscribed $558M Private Placement Of 58.7M Shares Of Stock To Launch First Public Treasury Reserve Of Toncoin

Author: Benzinga Newsdesk | August 04, 2025 08:30am

• Upsized and oversubscribed PIPE offering by Verb Technology Company Inc. (NASDAQ:VERB) expected to deliver approximately $558 million in gross proceeds
  
   
• Company is expected to create the first publicly traded treasury reserve of Toncoin, the native cryptocurrency of The Open Network blockchain, which has an exclusive partnership with Telegram, the world's second largest messenger with over one billion monthly active users
  
   
• Deeply experienced team expected to be led by Executive Chairman Manuel Stotz, Founder & CEO of Kingsway Capital and President of the TON Foundation, supported by a strategic partnership with Blockchain.com
  
   
• Over 110 institutional and crypto-native investors subscribed to the deal, led by Kingsway Capital and anchored by Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA)
  
   
• Transaction expected to close on or around August 7, 2025
  
   

LAS VEGAS, Aug. 04, 2025 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (NASDAQ:VERB) (the "Company") today announced the pricing of an upsized and oversubscribed private placement ("PIPE transaction"), positioning the Company to implement a TON treasury strategy. The Company expects to rebrand as TON Strategy Co. ("TSC") and become the first publicly traded treasury reserve of Toncoin ($TON), the native cryptocurrency of The Open Network ("TON") blockchain, in partnership with Kingsway Capital.

The Company has entered into a PIPE transaction with institutional and accredited investors for the purchase and sale of approximately 58.7 million shares of common stock (including pre-funded warrants) at a purchase price of $9.51 per share, reflecting the closing market price as of August 1, 2025, for expected gross proceeds of approximately $558 million. Following the closing of the transaction, which is expected to occur on or around August 7, 2025, subject to customary closing conditions, the Company intends to use the majority of the net proceeds of the offering to acquire $TON. $TON will serve as the Company's primary treasury reserve asset. This is expected to position the company as one of the largest holders of $TON globally and enable it to generate sustainable staking rewards to initiate, manage, and grow its $TON exposure in a cash flow positive manner. The Company's existing business operations will continue and are expected to expand.

Earlier this year, Telegram and the TON Foundation announced that TON would become the exclusive blockchain powering Telegram's ecosystem. It is the only way for millions of Telegram creators and mini app developers to withdraw rewards earned from users and advertisers, the only accepted payment method for Telegram Ads in most countries, the sole platform for Telegram's tokenized assets — including usernames, accounts, and gift NFTs — and the only permitted blockchain for Telegram's mini app ecosystem. Unlike other social applications, Telegram users can use $TON within the messenger without leaving the interface. Earlier this quarter, TON Wallet, a self-custodial wallet built into Telegram's interface, went live to its 87 million U.S. users. Globally, Telegram reports to have over one billion monthly active users and to be the world's fastest growing large-scale messenger app.

Posted In: VERB