PANews reported on August 4th that Verb Technology Company ( Nasdaq: VERB ) has completed approximately $558 million in private placement financing through a private equity initiative (PIPE) to establish the first publicly listed Toncoin ( $TON ) treasury company in partnership with Kingsway Capital. The company plans to change its name to TON Strategy Co. ( TSC ), with the majority of the funds used to acquire $TON , becoming one of the world's largest $TON holders. The transaction is expected to close on August 7th . TSC will use $TON as its primary reserve asset and generate returns through staking. Over 110 institutions, including Kingsway Capital , Vy Capital , and Blockchain.com , participated in the investment.