AlphaTON Capital Corp Establishes $400 Million At-the-Market (ATM) Equity Offering Program and Completes $15 Million Registered Direct Offering

Olshan acted as counsel to AlphaTON Capital Corp (Nasdaq: ATON) in connection with establishing AlphaTON’s “at-the-market” equity offering program under which it may sell ordinary shares having an aggregate gross sales price of up to $400 million. This transaction follows AlphaTON’s $15 million registered direct offering of ordinary shares and pre-funded warrants last month.

AlphaTON is a technology company scaling the Telegram super app, with an addressable market of one billion monthly active users. Its strategy includes managing a strategic reserve of Telegram’s exclusive digital asset, TON, along with other assets aligned with the broader Telegram ecosystem. With the net proceeds from the offerings, AlphaTON is executing a comprehensive mergers and acquisitions strategy and has formed a strategic alliance with Telegram’s Confidential Compute Network known as Cocoon AI. 

H.C. Wainwright & Co. serves as the sales agent for the ATM equity offering program and previously acted as the exclusive placement agent for the registered direct offering. The offerings were made by means of a prospectus supplement to AlphaTON’s “shelf” registration statement. 

The Olshan team was led by Capital Markets partner Spencer G. Feldman and associate Dakota J. Forsyth.