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DOVER - AlphaTON Capital Corp., formerly Portage Biotech Inc., announced Wednesday it will acquire approximately $100 million in TON tokens to establish a specialized digital asset treasury focused on Telegram’s ecosystem. The company, which has shown remarkable market performance with a 410% price return over the past six months according to InvestingPro data, is making a bold move into the digital asset space.
The company, which will begin trading under the ticker symbol NASDAQ:ATON on Thursday, has appointed Brittany Kaiser as Chief Executive Officer and board member. Kaiser currently serves as a director at Gryphon Digital Mining and is known for her advocacy in data protection and digital assets.
AlphaTON Capital has secured approximately $38.2 million through a private placement of 6.7 million ordinary shares at $5.73 per share, expected to close around September 5. Additionally, the company entered a $35 million loan facility with BitGo Prime to purchase TON tokens.
Enzo Villani, who will join as Executive Chairman and Chief Investment Officer, described the integration of platforms like Telegram with blockchain as "one of the most significant market opportunities since the introduction of Bitcoin."
The company’s operational strategy includes acquiring TON tokens, implementing yield generation through network validation and staking operations, and developing projects within the Telegram mini app ecosystem.
AlphaTON Capital has assembled strategic advisors including Anthony Scaramucci of SkyBridge, Michael Terpin, and Jaime Rogozinski, founder of Wall Street Bets. The company also established relationships with institutions including BitGo, Animoca Brands, Kraken, and Crypto.com.
The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be resold in the United States without registration or an exemption.
According to the press release statement, digital asset investments involve various risks including market volatility, regulatory uncertainty, and technological challenges. InvestingPro data indicates the stock generally trades with high price volatility, with the stock price ranging from $0.63 to $14.65 over the past 52 weeks. Discover comprehensive risk metrics and valuation models with InvestingPro’s detailed research reports, available for 1,400+ US stocks.
In other recent news, Gryphon Digital Mining, Inc. has been actively progressing with its merger plans with American Bitcoin Corp. The company filed an update with the SEC concerning the pending merger, which includes detailed financial information for American Bitcoin Corp. for the first half of 2025. This information comprises management’s discussion and analysis of financial conditions and unaudited financial statements. Additionally, Gryphon announced that stockholder voting has commenced for the merger, with a special meeting scheduled for late August 2025. The stock-for-stock transaction is anticipated to conclude in early September, pending stockholder approval and other conditions. Furthermore, both companies have filed an amended registration statement on Form S-4 with the SEC, which includes a preliminary proxy statement and prospectus. Upon completion, the merged entity will operate under the American Bitcoin brand and is expected to trade on Nasdaq. These developments mark significant steps toward the finalization of the merger.
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