Verb Technology Shares Surge Following Private Placement and Cryptocurrency Acquisition Plan

Verb Technology's stock price doubled to $19.05 following the successful completion of a heavily oversubscribed private placement, enabling the company to execute a comprehensive treasury strategy. The firm plans to rebrand as TON Strategy Co., positioning itself as the first publicly traded treasury reserve holding Toncoin ($TON), the native cryptocurrency of The Open Network blockchain, in collaboration with Kingsway Capital. In the transaction, Verb Technology raised approximately $558 million through the sale of 58.7 million shares—including pre-funded warrants—at $9.51 per share, in partnership with institutional and accredited investors. The majority of these funds will be allocated to acquiring $TON, which will serve as the company's primary reserve asset. The company also intends to maintain and grow its existing operations. More than 110 investors, including numerous institutional and crypto-focused entities, participated in the deal. Following the closing, expected around Thursday, Verb's common stock will continue trading on the Nasdaq under the ticker VERB, with the new treasury strategy taking effect immediately. For further details, contact Chris Wack at chris.wac...