---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-012814"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T00:43:29.221230+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Verb Technology completes 1-for-40 reverse stock split to regain Nasdaq compliance

## Summary
- Reverse split ratio of 1-for-40 reduced outstanding shares from ~153.6M to ~3.84M.
- Authorized common stock increased from 200M to 400M shares via charter amendment.
- Split effective April 19, 2023; new CUSIP 92337U203; no fractional shares issued.
- Intended to bring share price above Nasdaq's $1.00 minimum bid listing requirement.
- CEO cites potential naked short selling as factor; plans to provide update to stockholders.

## SEC filing metadata
- accession: 0001493152-23-012814
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 3.03, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000149315223012814/0001493152-23-012814-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000149315223012814/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-012814
- JSON: https://secwatch.observer/filing/0001493152-23-012814.json
- Plain text: https://secwatch.observer/filing/0001493152-23-012814.txt

## Key facts
- Governance Changes
  TON Strategy Co: Effected a 1-for-40 reverse stock split and increased authorized common stock from 200,000,000 to 400,000,000 shares (effective 2023-04-17).
  - Change: charter amendment
  - Effective: 2023-04-17
  source text: On April 17, 2023, the Company filed a Certificate of Amendment of Articles of Incorporation (the “Certificate of Amendment”) effecting a reverse stock split with a ratio of 1-for-40 (the “Reverse Split”) and reflecting an increase in the Company’s authorized shares of common stock from 200,000,000 to 400,000,000.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1566610/000149315223012814/0001493152-23-012814-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.