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Verb Technology completed a $558 million private sale intended for building the TON enterprise treasury.
[Verb Technology completes $558 million private sale to build TON corporate treasury] Nasdaq-listed Verb Technology Company announced that it has raised $558 million by issuing approximately 58.7 million shares of common stock, led by Kingsway, with participation from several institutions including Vy Capital, Blockchain.com, Ribbit Capital, and Graticule (GAMA), CMCC Global, Pantera, ParaFi Capital, Luxor Capital, Arrington Capital, Animoca, CEX, and Primitive Ventures. The company plans to immediately purchase TON and use it as the company's primary financial reserve asset. Additionally, the company plans to change its name to TON Strategy Co.