Frascella reports 467,928 TON Strategy Co (TONX) shares on Form 3

Rhea-AI Filing Summary

TON Strategy Co insider Anthony M. Frascella filed an initial ownership report on Form 3, showing direct holdings of 467,928 shares of Common Stock. This filing records his beneficial ownership position and does not indicate any recent share purchases or sales.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Frascella Anthony M.

Role Insider

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 467,928 shares (Direct)

Footnotes (1)

Key Figures

Common Stock held: 467,928 shares

1 metrics

Common Stock held 467,928 shares Shares of TON Strategy Co Common Stock directly owned after reported position

Key Terms

Common Stock, direct_or_indirect, ownership_type

3 terms

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

direct_or_indirect financial

"direct_or_indirect: "D" for direct ownership type"

ownership_type financial

"ownership_type: "direct" in the transaction record"

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Frascella Anthony M.

(Last) (First) (Middle)

ONE GREENWICH PLAZA, SUITE 300

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/31/2026

3. Issuer Name and Ticker or Trading Symbol
TON Strategy Co [ TONX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	467,928	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Potential Member of 10% Beneficial Owner Group Anthony M. Frascella is Co-Chief Investment Officer of Aristeia Capital, L.L.C. and disclaims beneficial ownership of the shares of common stock of TON Strategy Co held by the funds advised by Aristeia Capital, L.L.C.

	Anthony M. Frascella	04/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does the TONX Form 3 filing by Anthony M. Frascella show?

The Form 3 shows that Anthony M. Frascella directly holds 467,928 shares of TON Strategy Co Common Stock. It is an initial ownership report and does not reflect any recent purchase or sale transactions.

How many TON Strategy Co (TONX) shares does Anthony M. Frascella own?

Anthony M. Frascella reports beneficial ownership of 467,928 shares of TON Strategy Co Common Stock. These shares are listed as directly held, based on the Form 3 ownership table information provided.

Does the TONX Form 3 indicate that Anthony M. Frascella bought or sold shares?

The Form 3 does not indicate any specific share purchases or sales. It lists a holding entry for Common Stock with 467,928 shares reported as owned following the reported position, without a buy or sell transaction code.

What type of security is reported in the TONX Form 3 filing?

The filing reports ownership of Common Stock of TON Strategy Co. The entry shows this class of security along with the total number of shares held directly after the reported position, which is 467,928 shares.

Is Anthony M. Frascella’s ownership in TON Strategy Co direct or indirect?

The Form 3 lists his ownership as direct, indicated by the direct_or_indirect and ownership_type fields set to D and direct. No separate indirect entities or derivative positions are disclosed in the provided data.