by: xpoolPosted on:

Nasdaq Rebukes TON Strategy Over Toncoin Deal Violation

Nasdaq has issued a formal reprimand to TON Strategy for violating listing rules related to its $272.7 million Toncoin purchase and associated PIPE financing. The company failed to secure shareholder approval before issuing stock to fund the deal, according to a recent SEC filing. 48.78% of the proceeds from the private investment in public equity (PIPE) financing went towards acquiring Toncoin, exceeding compliance thresholds established by Nasdaq.

Related posts:

  1. Nasdaq Fines TON Strategy for Failing to Obtain Shareholder Approval on Toncoin Purchase
  2. Nasdaq-Listed Firm Invests $100 Million in Toncoin, But Token Price Shows No Response
  3. TON Strategy Approves $250 Million Stock Buyback Program
  4. TON Strategy Receives Reprimand from Nasdaq for Listing Rule Violations