Nasdaq-Traded Verb Closes $558M Placement for Toncoin Treasury Strategy
Main Idea
Verb Technology Company Inc. has completed a $558 million placement to hold toncoin (TON) as a treasury reserve asset, rebranding as TON Strategy Co. (TSC) and involving key industry figures in its leadership.
Key Points
1. Verb Technology Company Inc. raised $558 million dedicated to holding toncoin (TON) as a treasury reserve asset.
2. The company will rebrand as TON Strategy Co. (TSC) while continuing its social commerce and video marketing operations.
3. Key leadership changes include Manuel Stotz as executive chairman and Veronika Kapustina as CEO, with Sarah Olsen as CFO and Peter Smith as a special advisor.
4. The placement involved major investors like Vy Capital, Blockchain.com, Ribbit Capital, and Graticule.
5. The move aligns with a broader trend of companies adopting digital assets like TON for treasury strategies.
Description
Verb Technology Company Inc. explained it has wrapped up a $558 million private placement to launch what it says will be the first publicly traded firm dedicated to holding toncoin (TON) as a treasury reserve asset. Kingsway-Backed Verb Raises $558M for Toncoin Treasury The deal, which was oversubscribed and carried out in partnership with Kingsway
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