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LAS VEGAS - TON Strategy Company (NASDAQ:TONX), a digital asset treasury company focused on holding Toncoin ($TON), reported its treasury asset value per share at $11.90 as of Sunday, according to a company press release. The company, currently valued at approximately $654 million, has seen its stock surge over 111% in the past six months despite recent volatility, according to InvestingPro data.
The company also confirmed it has engaged Cantor Fitzgerald & Co. as its non-exclusive buyback agent for its previously announced $250 million stock repurchase program, which was unanimously approved by the board of directors.
TON Strategy Company became the first publicly traded treasury vehicle dedicated to $TON after completing a $558 million private placement and pivoting from its previous identity as Verb Technology Company in August.
"Publishing our treasury asset value per share highlights our focus on transparency as a listed digital asset treasury company," said Manuel Stotz, Executive Chairman of TON Strategy Company.
The company’s treasury asset value calculation includes the aggregate market price of its $TON holdings plus cash on hand, divided by outstanding shares and prefunded warrants. The calculation used a $TON price of $3.09 from CoinMarketCap as of Sunday evening.
TON is the native token of The Open Network, a Layer-1 blockchain integrated with Telegram, which has more than 1 billion monthly active users worldwide.
The company stated its mission involves supporting the growth of tokenized networks through long-term holding of $TON, with plans to expand its holdings, generate staking revenues, and reinforce the network’s foundation.
In addition to its digital asset treasury operations, the company continues to operate legacy business units including MARKET.live and LyveCom. While trading at a premium to its InvestingPro Fair Value, the company shows strong growth potential with analysts forecasting significant sales growth this year. Discover more insights and 12 additional ProTips with a subscription to InvestingPro, including detailed analysis of TONX’s financial health and growth prospects.
In other recent news, TON Strategy Company, formerly known as Verb Technology Company, has announced a $250 million stock buyback program, approved unanimously by its board of directors. The company, which recently rebranded and began trading under the TONX ticker, is focused on managing its substantial Toncoin holdings. Earlier, the company reported treasury assets exceeding $780 million, consisting mainly of $713 million in Toncoin and $67 million in cash. This announcement followed the closing of a $558 million private placement led by Kingsway Capital, aimed at establishing a publicly traded treasury reserve of Toncoin. The private placement involved the sale of approximately 58.7 million shares and attracted over 110 institutional and crypto-native investors. Additionally, Executive Chairman Manuel Stotz outlined the company’s strategic vision to exceed 5% of the Toncoin supply and expand staking revenues. These developments highlight the company’s commitment to its Toncoin strategy and its integration with Telegram’s ecosystem.
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