AlphaTON files to issue up to $420.7M in securities

AlphaTON, a Nasdaq-listed Digital Asset Treasury (DAT) firm for the TON token, has filed a Form S-3 shelf registration with U.S. financial authorities to issue up to $420.69 million in securities, The Block reported. The company plans to use the proceeds to expand its AI and high-performance computing infrastructure in support of Telegram's Cocoon AI network. The funds will also be allocated for purchasing TON tokens and related digital assets, as well as investing in startups within the TON ecosystem.