The strategic reserve of TON has arrived.
NASDAQ-listed company $VERB plans to raise $558 million through a PIPE (Private Investment in Public Equity) at $9.51 per share, totaling 58.7 million shares.
Major investors include Kingsway Capital, with other contributors including Vy Capital, Ribbit Capital, Graticule (GAMA), and over 110 other institutional investors.
Next, VERB will be renamed TON Strategy, planning to hold 5% of the circulating supply of TON.
Manuel Stotz, founder of Kingsway Capital and president of the TON Foundation, will serve as the executive chairman of TON Strategy.
Former senior advisor of the TON Foundation, Veronika Kapustina, will take on the role of CEO.
Sarah Olsen, co-founder of Europa Partners, will serve as CFO.
On August 4th (Tuesday) before the market opened, VERB's stock price surged by 130%, reaching $22.5, and has now returned to $15.5, still up over 60%.
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