Video Software Company Verb Announces $558M Raise, Rebrand to TON Strategy Co.

Verb Technology Company, Inc. (Nasdaq: VERB) looks set to be the latest publicly traded company to implement a cryptocurrency reserve strategy, after the company announced a $558m private placement round earlier today.

The video software company plans to rebrand as TON Strategy Co. (TSC), becoming the first publicly traded treasury reserve vehicle for Toncoin ($TON), native cryptocurrency of The Open Network (“TON”) blockchain.

Verb's stock skyrocketed over 200% after the announcement and closed at $20.42 (+114.72%).

Led by Kingsway Capital, with the participation of over 110 other institutional investors including the likes of Vy Capital, Pantera, ParaFi Capital and Arrington Capital, the deal includes the "purchase and sale of approximately 58.7 million shares of common stock (including pre-funded warrants) at a purchase price of $9.51 per share, reflecting the closing market price as of August 1, 2025," and is expected to be completed by Aug 7.

Following that, TSC will be using majority of the net proceeds to acquire its primary treasury reserve asset, $TON.

According to the press release, this strategy would position the company as "one of the largest holders of $TON globally and enable it to generate sustainable staking rewards to initiate, manage, and grow its $TON exposure in a cash flow positive manner."

The incoming leadership suggests that this is a concerted effort take bring TON public. Manuel Stotz, founder and CEO of Kingsway Capital, is also the President of the TON Foundation and incoming executive chairman of TSC.

Other participants in the round like Vy Capital and Ribbit capital previously took part in a $400 million $TON purchase earlier this year .

TON - Telegram Partnership

Earlier this year, Telegram and the TON Foundation announced that TON would become the exclusive blockchain powering Telegram’s ecosystem. $TON is the only way creators and mini app developers on Telegram can withdraw rewards earned from users and advertisers, and the only accepted payment method for Telegram Ads in most countries.

“Telegram is the preferred messenger for the growing global crypto community and $TON is the currency that powers the Telegram ecosystem. In my judgment, permanent capital vehicles are particularly suitable for long-term holdings of $TON, which not only has the potential to compound in value, but also offers staking yield, meaning TSC can benefit from staking rewards,” said Manuel Stotz, incoming Executive Chairman.

Crypto Treasury Vehicles in Vogue

Verb’s announcement is in line with a recent trend of public companies pivoting to build non-Bitcoin crypto treasuries, reflecting an increase appetite in exposure to crypto beyond Bitcoin.

Companies like 180 Life Sciences Corp (Nasdaq:ATNF) moved into Ether (ETH), along with Bitmine , Sharplink and Bit Digital , while others like Upexi opted for a Solana (SOL) treasury.

Numerous other companies have announced treasury strategies denominated in Sui, Binance Coin and even Hyperliquid tokens.