Verb Technology Company (Nasdaq: VERB) Successfully Closes $558 Million Private Placement to Launch First Publicly Listed TON Treasury Strategy Company, in Partnership with Kingsway Capital

Core Viewpoint - Verb Technology Company, Inc. has successfully closed a $558 million private placement to support the acquisition of Toncoin, the native cryptocurrency of The Open Network blockchain, aiming to become the largest publicly traded treasury reserve of Toncoin [1][3]. Company Strategy - The majority of the net proceeds from the PIPE transaction will be used to acquire Toncoin, which will serve as the primary treasury reserve asset for the company [3]. - The company plans to generate sustainable staking rewards from its Toncoin holdings to manage and grow its exposure in a cash flow positive manner [3]. - Verb Technology Company intends to rebrand as TON Strategy Co. to reflect its new focus on digital assets while continuing to operate its existing business units [3]. Investment Participation - The PIPE transaction involved approximately 58.7 million shares of common stock and participation from over 110 institutional and crypto-native investors, including notable firms such as Vy Capital, Blockchain.com, and Ribbit Capital [2]. - The transaction was led by Kingsway Capital, which played a significant role in the placement [2]. Leadership and Advisory Team - The company will be led by a team with extensive experience in digital assets, including Executive Chairman Manuel Stotz, who has over 15 years of investment experience in the blockchain ecosystem [5]. - CEO Veronika Kapustina has a background in capital markets and blockchain, having previously served as a Senior Advisor to the TON Foundation [5]. - CFO Sarah Olsen brings expertise from her previous role at JP Morgan, focusing on blockchain and tokenized assets [5]. Company Overview - Verb Technology Company operates in the social commerce space, leveraging technology and video marketing to enhance customer engagement and conversion rates [7]. - The company has developed a multi-vendor, livestream social shopping platform, integrating advanced AI capabilities for content creation and audience interaction [7].