Verb Technology raises $558 million, transforming into a TON reserve strategy company

ChainCatcher news, according to GlobeNewswire, Verb Technology (NASDAQ: VERB) today announced the completion of a $558 million private placement financing round, planning to transform into the first publicly listed TON reserve strategic company. The company will be renamed TON Strategy Co. and will use TON as its primary reserve asset.

The private placement issued approximately 58.7 million shares of common stock at a price of $9.51 per share. The transaction received support from over 110 institutional and cryptocurrency sector investors, with major investors including Kingsway Capital, Vy Capital, and others.