04.08.2025 15:08

Verb Technology, a Nasdaq-listed company (NASDAQ: VERB), has made headlines by becoming the first publicly traded firm to establish a substantial cryptocurrency treasury focused on The Open Network (TON). This bold move follows TON's selection as the exclusive blockchain powering Telegram's expanding ecosystem, encompassing payments, tokenized assets, and mini-applications.

A recently announced and oversubscribed private placement (PIPE) deal will inject a remarkable $588 million into the company. This capital influx, raised through the sale of approximately 58.7 million shares at $9.51 per share (the August 1st closing price), is earmarked for acquiring TON's native token, Toncoin. The market reacted enthusiastically to this news, driving VERB's stock price up by a staggering 51% to $14.38 in early Monday trading.

This strategic investment positions Verb Technology as a major player in the TON ecosystem. Their collaboration with Kingsway Capital underscores the significant scale of this initiative, enabling the company to become one of the world's largest holders of Toncoin. The company intends to leverage its substantial TON holdings to generate passive income through staking rewards, ensuring a sustainable and cash-flow-positive approach to treasury management and expansion.

The PIPE deal, expected to close around August 7th, 2025, subject to standard closing conditions, represents a significant shift in Verb Technology's strategy. Beyond the cryptocurrency treasury, the company's existing business operations will continue, though details regarding these remain undisclosed in the provided information from internet sources.