Perkins Coie Represents Verb Technology Company Inc. in $558M PIPE Financing
PALO ALTO (August 13, 2025) – Perkins Coie is pleased to have advised Verb Technology Company Inc. (the “Company”) on an upsized and oversubscribed private placement financing (PIPE) that is expected to deliver $558 million in gross proceeds from institutional and crypto-native investors.
The Company plans to rebrand as TON Strategy Co. and create the first publicly traded treasury reserve of Toncoin, the native cryptocurrency of The Open Network (TON) blockchain, in partnership with Kingsway Capital. For more information, please see the Company’s press release here.
The Company has sold 58.7 million shares of common stock (including pre-funded warrants) at $9.51 per share through the PIPE transaction and intends to use the majority of the net proceeds to acquire $TON that will serve as the Company’s primary treasury reserve asset. Earlier this year, Telegram and the TON Foundation announced that TON would become the exclusive blockchain powering Telegram’s global messenger ecosystem.
The Perkins Coie advisory team was led by the firmwide lead of the Fintech Corporate, Financing, and Merger & Acquisition vertical, partner Lowell Ness, and included partner Allison Handy, counsel Zeeve Rose, and associate Kiran Gill.
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