AlphaTON Capital Corp (Nasdaq: ATON), a Nasdaq-listed digital asset technology company focused on the Telegram and TON, The Open Network ecosystem, announced it has filed a $420.69 million shelf registration statement with the U.S. Securities and Exchange Commission (SEC).
This filing marks a significant milestone, as the company has exited the SEC’s “baby shelf rules”—restrictions that previously limited smaller public companies with a public float under $75 million from issuing more than one-third of their float via shelf registrations in a 12-month period.
With its public float now exceeding this threshold, AlphaTON gains greater flexibility to raise capital efficiently over time through various securities, subject to market conditions and SEC approval.
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The shelf allows AlphaTON to issue up to $420.69 million in securities a figure playfully nodding to crypto meme culture, reminiscent of FTX’s infamous “420.69” funding round. This replaces prior constraints and enables “takings” issuances as opportunities arise.
Funds will primarily support expansion of the company’s TON treasury, including direct purchases of TON tokens and related digital assets like GAMEE tokens. This aligns with AlphaTON’s policy of building a strategic reserve to bolster the TON/Telegram/Cocoon network.
Accelerating deployment of GPU and high-performance computing (HPC) resources for Telegram’s Cocoon AI network. The company recently deployed its first fleet of Nvidia B200 GPUs and secured $82.5 million for further GPU infrastructure.
Targeting revenue-generating businesses in the Telegram ecosystem, such as payments, content distribution, and blockchain-enabled services on TON. AlphaTON has already identified several high-potential acquisition targets.
Enhancing staking operations, Telegram-based app development, and investments in TON DeFi protocols and gaming platforms. AlphaTON has reallocated most of its assets to Toncoin and related staking positions, positioning public-market investors for indirect exposure to TON’s growth.
TON Capital, incorporated in the British Virgin Islands, positions itself as the “world’s leading technology public company scaling the Telegram super app,” tapping into Telegram’s 1 billion monthly active users. Led by CEO Brittany Kaiser former Cambridge Analytica whistleblower.
Executive Chairman/Chief Investment Officer Enzo Villani, and Chief Business Development Officer Yury Mitin, the firm advises from heavyweights like BitGo, Animoca Brands, Kraken, and SkyBridge Capital. It trades under ATON on Nasdaq and focuses on network validation, staking, and TON-based innovations.
ATON shares rose 14.7% from a low of $1.49 to $1.71 following the announcement, closing up over 7.5% on December 4. However, the stock has been volatile, with significant losses in the prior month amid broader digital asset treasury (DAT) sector pressures.
TON token (Toncoin) recently hit an all-time high of $8.25 but has since declined nearly 80% to ~$1.80, ranking 40th by market cap. AlphaTON’s move signals institutional confidence in TON’s integration with Telegram’s AI ambitions, including Cocoon, amid rising demand for decentralized AI compute.
The news quickly spread on X with posts from crypto influencers like WuBlockchain highlighting the filing’s implications for TON, Telegram mini-apps, and AI. Discussions emphasize the “meme-sized” $420.69M figure and its potential to accelerate TON’s growth.
This filing underscores AlphaTON’s aggressive pivot toward AI-blockchain convergence in the Telegram ecosystem, potentially inspiring similar moves by other DAT firms. For the full SEC filing or investor relations, visit AlphaTON’s website or EDGAR database.