NEW YORK, August 7, 2025: Morgan Lewis advised the sole placement agent and lead financial advisor in connection with an upsized and oversubscribed $558 million private placement by Verb Technology Company (Nasdaq: VERB), positioning Verb Technology to implement a Toncoin ($TON) treasury strategy. In partnership with Kingsway Capital, Verb Technology expects to rebrand as TON Strategy Co. and become the first publicly traded treasury reserve of TON, the native cryptocurrency of The Open Network (TON) blockchain, which has an exclusive partnership with Telegram, the world’s second largest messenger, with over one billion monthly active users.
The company entered into the PIPE transaction with more than 110 institutional and crypto-native investors for the purchase and sale of approximately 58.7 million shares of common stock (including pre-funded warrants). The proceeds of the offering will be used to acquire $TON, enabling the company to generate staking rewards to initiate, manage, and grow its $TON exposure in a cash flow positive manner.
The Morgan Lewis team advising the placement agents includes partners Rahul K. Patel and Kevin S. Shmelzer and associates Maddy Anand and Dejonay C. Lawani.