Verb Technology Launches $588 Million Private Placement for TON Treasury
On August 4, Nasdaq-listed Verb Technology (NASDAQ: VERB) announced a private placement (PIPE) aiming to build a $588 million treasury using The Open Network (TON)’s token.
- Verb is the first publicly listed company to establish a crypto treasury with TON.
- The PIPE deal involves selling approximately 58.7 million shares at $9.51 each, based on the market price from August 1.
- Following the announcement, VERB stock rose by 51%, reaching $14.38.
- The total expected proceeds from this offering are $558 million, set to close around August 7, 2025.
- A significant portion of funds will be allocated to acquire TON as the primary treasury asset.
- Verb aims to become one of the largest holders of Toncoin and generate staking rewards for cash flow management.
Earlier this year, Telegram confirmed that TON would serve as the exclusive blockchain for its ecosystem, supporting features like a self-custodial wallet for 87 million U.S. users.
- TON powers the Telegram Ads platform and supports tokenized assets including usernames and NFTs.
- Telegram has over one billion monthly active users, positioning itself as a leading messenger app globally.
“Telegram is the preferred messenger for the growing global crypto community and $TON is the currency that powers the Telegram ecosystem,” stated Manuel Stotz, incoming Executive Chairman of Verb Technology.