Kingsway Capital Writes Letter to TON Strategy’s Board
Business Wire•27/10/2026•08:00 ET
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Key Highlights
- ➤Kingsway Capital holds approximately 22% of TON Strategy (TONX).
- ➤TON Strategy trades at a 44% discount to Estimated Treasury Asset Value Per Share.
- ➤Kingsway urges larger, more immediate share repurchases to maximize shareholder value.
- ➤Kingsway criticizes limited Board engagement and seeks stronger shareholder alignment.
Expert Statements
Manuel Stotz, Founder and Chief Executive Officer of Kingsway Capital Partners Limited; Executive Chairman of TON Strategy Company
“Our sincere hope, with this letter, is that you will recognize that meaningful change is needed to improve performance and will collaborate with us to reach a resolution in the best interest of all shareholders.”
Highlights Limited Share Repurchases and Inadequate Board Engagement
Kingsway Capital Partners Limited (together with its affiliates, “Kingsway”), which manages funds that together have an approximately 22% economic interest in TON Strategy Company (“TON Strategy” or the “Company”) (Nasdaq: TONX), today announced that it wrote a letter to the TON Strategy Board of Directors.
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