AlphaTON Capital Corp. to Accumulate Telegram Bonds for its Treasury

Rhea-AI Summary

AlphaTON Capital (NASDAQ: ATON) announced strategic bids to acquire Telegram Bonds for its corporate treasury on Nov 25, 2025. The bonds pay ~9% APY and carry a 20% convertible discount in a Telegram change-of-control scenario. AlphaTON said it will use cash and equity to fund the purchases and hold the bonds on its balance sheet as a treasury asset.

The company highlighted Telegram's projected $3 billion 2025 revenue (about $2B subscriptions + $1B mini-app ecosystem) and plans to use bond yield to accumulate more TON coin for its digital asset treasury.

Positive

• 9% APY yield on Telegram Bonds
• 20% convertible discount on change-of-control conversion
• Exposure to Telegram's projected $3B 2025 revenue
• Will reinvest yield to accumulate additional TON coin

Negative

• Consideration includes equity, which may dilute shareholders
• Concentrated treasury exposure to Telegram bonds and TON creates single-issuer risk

Insights

Digital assets treasury strategist

AlphaTON plans a treasury purchase of Telegram Bonds yielding 9%, gaining direct exposure to Telegram's $3 billion projected 2025 revenue.

AlphaTON will hold the Telegram Bonds on its balance sheet and pay using cash and equity, creating a mix of fixed‑income yield and equity exposure. The bonds offer ~9% annual yield and a 20% convertible discount in a Telegram change‑of‑control scenario, while AlphaTON intends to use bond yield to accumulate additional TON Coin for its digital treasury.

The plan depends directly on three disclosed facts: the availability of bonds (AlphaTON has active bids), the stated ~9% APY, and Telegram's projected $3 billion revenue for 2025. Material risks arise from reliance on future corporate actions (a change of control is explicit only for the convertible discount) and from funding the purchase with equity, which may dilute existing holders; those risks are stated rather than quantified. Also, the announcement links yield generation to acquiring more digital tokens, which mixes asset classes on the balance sheet.

Watch for concrete, monitorable developments over the next quarters: whether bids convert to closed purchases, the exact terms and covenants of the bonds (including maturity, seniority, and conversion mechanics), and any disclosures about equity consideration or dilution. Near‑term timeline to monitor: bond acquisition confirmations and published terms in upcoming filings or press releases within the next few fiscal quarters.

First-of-its-Kind Investment Provides Direct Exposure to Telegram's $3 Billion Projected Annual Revenue paying ~9% APY with Convertible discount of 20% in a Telegram Change of Control Scenario, in addition, ATON will use the 9% APY to accumulate more TON Coin for its Digital Asset Treasury

TORTOLA, BVI, Nov. 25, 2025 (GLOBE NEWSWIRE) -- AlphaTON Capital Corp. (NASDAQ: ATON), a leading digital asset technology company focused on the Telegram and TON ecosystem, today announced its strategic interest in acquiring Telegram Bonds for its corporate treasury. The company has active bids in the bond markets and private markets. The investment provides AlphaTON with direct exposure to Telegram's rapidly growing revenue base while generating an attractive 9% annual yield. AlphaTON will utilize cash and equity for the consideration. 

This marks a significant milestone for AlphaTON as the company deepens its strategic positioning within the Telegram ecosystem. With Telegram reporting approximately $2 billion in annual revenues and an additional $1 billion generated through its flourishing mini-app ecosystem, the company is on track to achieve $3 billion in total projected revenues for 2025.

"As a Telegram-focused technology company, having direct exposure to Telegram itself through these bonds represents a natural evolution of our treasury strategy," said Brittany Kaiser, CEO of AlphaTON Capital. "Telegram is not just a messaging platform – it's becoming the world's leading ethical super-app, powering everything from privacy-centric AI infrastructure through partners like Cocoon AI to on-chain gaming, DeFi, and commerce through its Web3-enabled mini-app ecosystem. This investment allows us to participate directly in Telegram's extraordinary growth trajectory while earning attractive yields for our shareholders."

Yury Mitin, Chief Business Development Officer commented, “The acquisition strengthens AlphaTON's comprehensive exposure across the entire Telegram and TON ecosystem. Beyond its substantial TON token holdings, the company has announced plans for strategic investments in critical infrastructure including Cocoon AI's GPU network, as well as exposure to the rapidly expanding universe of mini-applications spanning gaming, decentralized finance, payments, and social commerce built on Telegram's platform.”

With over one billion monthly active users and accelerating monetization through premium subscriptions and its mini-app platform, Telegram has established itself as one of the world's most valuable technology platforms, whilst remaining the most ethical. The mini-app ecosystem alone has demonstrated explosive growth, enabling developers to build and monetize applications directly within Telegram's interface, creating a new paradigm for mobile commerce and digital services.

"This acquisition exemplifies our thesis that the Telegram ecosystem represents the most significant opportunity in technology and digital assets today," commented Enzo Villani, Chairman and Chief Investment Officer, "From the protocol layer with TON, to privacy-centric AI infrastructure with Cocoon, to consumer applications reaching hundreds of millions of users daily, we are building concentrated exposure to what we believe will be the dominant digital ecosystem of the next decade."

The Telegram Bonds will be held on AlphaTON's balance sheet as a strategic treasury asset, complementing the company's existing digital asset holdings and generating steady yield income.

About AlphaTON Capital Corp. (Nasdaq: ATON)

AlphaTON Capital is a specialized digital asset company focused on developing the Telegram ecosystem and managing a strategic reserve of TON tokens. The Company implements a comprehensive M&A and treasury strategy that combines direct token acquisition, validator operations, and strategic ecosystem investments to generate sustainable returns for shareholders. Through its operations, AlphaTON Capital provides public market investors with institutional-grade exposure to the TON ecosystem and Telegram's billion user platform while maintaining the governance standards and reporting transparency of a Nasdaq-listed company. Led by Chief Executive Officer Brittany Kaiser, Executive Chairman and Chief Investment Officer Enzo Villani, and Chief Business Development Officer Yury Mitin, the Company's activities span network validation and staking operations, development of Telegram-based applications, and strategic investments in TON-based decentralized finance protocols, gaming platforms, and business applications.

AlphaTON Capital Corp is incorporated in the British Virgin Islands and trades on Nasdaq under the ticker symbol "ATON". AlphaTON Capital, through its legacy business, is also advancing potentially first-in-class therapies that target known checkpoint resistance pathways to potentially achieve durable treatment response and improve quality of life for patients. AlphaTON Capital actively engages in the drug development process and provides strategic counsel to guide development of novel immunotherapy assets and asset combinations. To learn more, please visit https://alphatoncapital.com/.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or AlphaTON's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the development and adoption of AI technologies, cryptocurrency market volatility, regulatory developments, technical challenges in infrastructure deployment, and general economic conditions. AlphaTON undertakes no obligation to update any forward-looking statements, except as required by law.

Investor Relations:
AlphaTON Capital Corp
AlphaTON@icrinc.com
(203) 682-8200

Media Inquiries:
Richard Laermer
RLM PR
AlphaTON@rlmpr.com
(212) 741-5106 X 216

Richard Laermer
AlphaTON (at) rlmpr.com

FAQ

What yield will AlphaTON (ATON) earn from the Telegram Bonds announced Nov 25, 2025?

AlphaTON said the Telegram Bonds pay approximately 9% APY.

What convertible terms did AlphaTON disclose for Telegram Bonds (ATON)?

The bonds include a 20% convertible discount in a Telegram change-of-control scenario.

How will AlphaTON fund its Telegram Bonds purchases (ATON)?

AlphaTON indicated it will use a mix of cash and equity as consideration.

What revenue exposure does ATON gain from buying Telegram Bonds?

AlphaTON said the bonds provide direct exposure to Telegram's projected $3 billion 2025 revenue.

Will AlphaTON hold Telegram Bonds on its balance sheet (ATON)?

Yes. AlphaTON stated the Telegram Bonds will be held on its balance sheet as a strategic treasury asset.

How will ATON use proceeds or yield from the Telegram Bonds?

AlphaTON plans to use the 9% APY yield to accumulate additional TON coin for its digital asset treasury.