Verb Technology Company's stock rose over 200% after announcing a $558 million PIPE deal and its rebranding to TON Strategy Co. This move positions it as the first publicly traded treasury reserve vehicle for Toncoin, the token of Telegram’s blockchain. The offering included about 58.7 million shares and pre-funded warrants priced at $9.51, with investor enthusiasm driving the stock price to a peak of $29.33. Proceeds will be used to acquire and stake TON as its main treasury asset, reflecting a trend of public companies investing in altcoins beyond Bitcoin. Key investors in the deal include Kingsway Capital, led by CEO Manuel Stotz, who is set to become the executive chairman of the rebranded company. Other notable investors include Blockchain.com and Animoca Brands, emphasizing a strategic effort to integrate TON into public markets. This pivot aligns with a broader movement of companies exploring crypto investments, highlighted by recent capital raises targeting various altcoins like Ether and TRX.

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