TON Strategy Company (TONX)

[roni1]

Hi Roni, let me clarify.

The acquisition price was $25M ($11M cash, $10M in restricted common shares and $4M in units at the same terms as all other investors in the IPO).

The way the units component of the purchase price worked was we paid them the $4M in cash and they gave it back to us in exchange for units in the IPO so that our net cash outlay from the IPO proceeds was $11M instead of $15M as set forth in the original merger agreement. It net the Company an additional $4M of working capital.

In total over $20M was raised in the IPO, including the $4M from the Sound Concepts shareholders.

Please reach out anytime.

Valter Pinto,
Managing Director