Stock of Verb Technology Company on Monday touched more than 200% intraday
The Social Commerce Company said that it plans to rebrand as a tonne strategy company, which has become a publicly trading treasury vehicle for the original token tonquine (ton) of the Telegram’s blockchain ecosystem.
About 58.7 million shares in this offer and pre-funded warrant were priced at $ 9.51. Investor enthusiasm around the company’s move in Crypto sent the stock to a high level of $ 29.33, which was in an accident for Google Finance, before settling about $ 27 at the time of accident for Google Finance.
Rise processes will be used to acquire and share tons as the company’s primary treasury asset, as it aims to redeem the institutional interest in blockchain-root reserves.
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Ton-language investors take the lead
The $ 558 million deal has a direct relationship with tunquins and telegram ecosystems of several major investors, indicating that the axis of the verb is a coordinated strategy to bring tons into published digits.
Kingsway Capital led the round. Kingsway CEO, Manual Stotes, President of Ton Foundation. Stotz Rebland Ton Strategy will take over as the executive chairman of the company.
“Telegram is a favorite messenger for the Global Cripto community, and the $ ton is the posture that strengthens the telegram ecosystem,” Stotz said in unknown. “Permanent capital vehicles are particularly suitable for long -term holdings of $ ton, which does not have the ability to compound the value, but also provides yield.”
Other investors include Blockchain.com, who will include CTE Peter Smith Ton Strategy Co., and VY Capital, who is a long -time backr of Telegram. Additional participants such as Animoka brands and the open platform (top) have a direct partnership with ton foundation on gaming, tokens, and tonne foundation on Talegram-entertained mini apps.
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Crypto Treasury Companies on growth
The axis of the verb follows the growing trend of public companies, which reflects the tendency to invest corporate investment in Crypto beyond bitcoin. The mental intensified in late July, when at least 16 companies announced a plan to increase or deploy more than $ 7.8 billion in Crypto.
Many companies went into Ether (Eth) last week, including BTCS INC, which has been filed for $ 2 billion in shares, and Sharplink Gaming, which is eligible for $ 338 million eligible Etross Tow deals.
Last week, Tron Inc. announced a plan to raise a $ 1 billion to buy Tron Network’s native token, TRX. At the same time, the Canadian VAPE company CEA said it collects the Wald $ 400 million, which collects $ 400 million to unlock $ 1.25 billion to buy canance’s BNB tokens, which increased its stock by 550%.
Mill City Ventures III finalized a $ 450 million deal to focus its focus towards receiving the SuI, while CEMTREX Inc. The purchase of $ 1 million Solana (SOL) has been revealed, which plans to extend its position to an extension of $ 10 million.
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