Verb Technology Stock Soars 200% After $558M Toncoin Bet

The Verb Technology Company's stock price skyrocketed by over 200% on Monday following its announcement to pivot into crypto. This massive shift has led to a significant change in the company, rebranding as TON Strategy Co.

In a move that makes it the first publicly traded company to hold Toncoin as a primary treasury asset, Verb Technology Company raised $558 million through a PIPE deal and pre-funded warrants priced at $9.51 each. The offering included 58.7 million shares.

Kingsway Capital led the round, with CEO Manuel Stotz becoming executive chairman of the rebranded company. Notably, Stotz also serves as president of the TON Foundation, highlighting the strategic blockchain alignment.