Toncoin Purchase Sparks Nasdaq Reprimand for TON Strategy Over $272M Transaction
Key Takeaways: Nasdaq has formally reprimanded TON Strategy for its $272.7 million purchase of Toncoin, citing breaches of shareholder approval requirements. The warning, disclosed in an 8-K filing with the US Securities and Exchange Commission, follows the company’s private investment in public equity (PIPE) financing. Nasdaq emphasized that issuing common stock representing at least 20%…