AlphaTON Capital cancels Anduril investment program

AlphaTON Capital Corp (NASDAQ: ATON) announced it has canceled its investment program related to Anduril Industries after discovering transfer restrictions on the underlying stock.

The company issued a clarification regarding its December 16 announcement about an Anduril Industries investment. AlphaTON had signed a contract to obtain economic exposure to Anduril's common stock through a Special Purpose Vehicle structure rather than a direct equity investment. The company intended to create a derivative tokenized product to provide access to technology companies that are difficult to invest in directly.

AlphaTON discovered that the Anduril Industries common stock underlying the economic exposure is subject to transfer restrictions and that Anduril will not consent to any transfer. Due to these limitations and risks regarding ownership and transferability, the company decided to cancel the tokenized investment program.

"Due to these material limitations and risk on ownership and transferability, AlphaTON has made the decision to cancel the Anduril tokenized investment program and will not be proceeding with the transaction," the company stated.

AlphaTON Capital describes itself as a technology company focused on scaling the Telegram platform and managing digital assets. The company operates validator operations and makes strategic ecosystem investments while maintaining exposure to the TON ecosystem and Telegram's user base.

The company said it remains committed to strategic investments and tokenization of assets that provide clear ownership rights and align with shareholder value creation objectives.

The information is based on a press release statement from AlphaTON Capital Corp.

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