VERB raises $558 million to become first public TON treasury company

Verb Technology Company (NASDAQ: VERB) announced the pricing of a private placement expected to raise approximately $558 million in gross proceeds. The company plans to use the majority of funds to acquire Toncoin, the native cryptocurrency of The Open Network blockchain.

The transaction involves the sale of approximately 58.7 million shares of common stock at $9.51 per share to institutional and accredited investors. The deal attracted over 110 investors, led by Kingsway Capital and anchored by Vy Capital, Blockchain.com, Ribbit Capital, and Graticule.

Following the transaction's expected closing on August 7, 2025, VERB intends to rebrand as TON Strategy Co. and establish what it describes as the first publicly traded treasury reserve of Toncoin. The company expects to hold approximately 5% of the market value of Toncoin's circulating supply.

The transaction will bring new leadership to the company. Manuel Stotz, founder and CEO of Kingsway Capital and president of the TON Foundation, will serve as executive chairman. Veronika Kapustina, a former senior advisor to the TON Foundation, will become CEO. Sarah Olsen, co-founder of Europa Partners, will serve as CFO.

The Open Network blockchain has an exclusive partnership with Telegram, which reports over one billion monthly active users. Toncoin serves as the payment method for Telegram Ads in most countries and is used for the platform's tokenized assets and mini app ecosystem.

VERB's existing business operations in social commerce and video marketing technology are expected to continue alongside the new treasury strategy. The company operates MARKET.live, a livestream social shopping platform, and recently acquired AI social commerce technology company LyveCom.

The private placement is subject to customary closing conditions. Cohen & Company Capital Markets served as sole placement agent for the transaction.

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