---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-026818"
form_type: "8-K"
ticker: "TONX"
cik: "0001566610"
company_name: "TON Strategy Co"
filed_at: "2025-09-08T23:59:59+00:00"
generated_at: "2026-05-17T07:35:21.253137+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# TON Strategy reports treasury asset value per share of $11.90; appoints Cantor Fitzgerald for $250M buyback

## Summary
- Treasury asset value per share of $11.90 as of Sept 7, 2025, using $TON price of $3.09.
- Engaged Cantor Fitzgerald as non-exclusive buyback agent for the $250M stock repurchase program.
- Company had 61,062,637 common shares and 1,677,996 pre-funded warrants outstanding.
- Chairman's Message published Sept 5 outlining growth strategy and TON ecosystem update.

## SEC filing metadata
- accession: 0001641172-25-026818
- form_type: 8-K
- ticker: TONX
- cik: 0001566610
- company_name: TON Strategy Co
- filed_at: 2025-09-08T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1566610/000164117225026818/0001641172-25-026818-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1566610/000164117225026818/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-026818
- JSON: https://secwatch.observer/filing/0001641172-25-026818.json
- Plain text: https://secwatch.observer/filing/0001641172-25-026818.txt

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