Form 8-K

8-K — TON Strategy Co

Accession: 0001493152-26-029781

Filed: 2026-06-23

Period: 2026-06-18

CIK: 0001566610

SIC: 6199 (FINANCE SERVICES)

Item: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the

Securities

Exchange Act of 1934

Date

of Report (Date of earliest event reported): June 18, 2026

TON

Strategy Company

(Exact

Name of Registrant as Specified in Charter)

Nevada

001-38834

90-1118043

(State

or Other Jurisdiction

(Commission

(IRS

Employer

Incorporation)

File

Number)

Identification

No.)

2300

W. Sahara Avenue, Suite 800

Las

Vegas, Nevada

89102

(Address

of Principal Executive Offices)

(Zip

Code)

Registrant’s

Telephone Number, Including Area Code: (855) 250-2300

N/A

(Former

Name or Former Address, if Changed Since Last Report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange on which registered

Common

Stock, par value $0.0001

TONX

The

Nasdaq Stock Market LLC

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item

3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

June 18, 2026, TON Strategy Company (the “Company”) received a Letter of Reprimand (the “Reprimand Letter”)

from the staff at the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”)

in connection with the Staff’s Initial Letter (as defined below) regarding the Company’s violation of Nasdaq’s shareholder

approval requirements set forth in Nasdaq Listing Rule 5635(c) (the “Rule”). The Reprimand Letter stated that while

the Staff determined that there were failures to comply with the Rule, those failures did not appear to have been the result of a deliberate

intent to avoid compliance, and as such, the Staff believes that a Reprimand Letter, as opposed to delisting the Company’s securities,

is appropriate. The Company’s shares will continue to be listed on Nasdaq and the issuance of the Reprimand Letter closes these

matters.

previously disclosed in the Company’s Form 10-K filed on March 31, 2026, the Company, on March 27, 2026, provided notice to the

Staff regarding the Company’s possible violation of Nasdaq Listing Rule 5635(c). This notice related to the Company’s determination

that a number of equity awards granted pursuant to the 2019 Stock and Incentive Compensation Plan, as amended (the “2019 Plan”)

were inadvertently issued in excess of the amount available under the 2019 Plan (the “Excess Awards”), and such issuance

of Excess Awards may have required additional shareholder approval. On March 30, 2026, the Company received a letter (the “Initial

Letter”) from the Staff acknowledging the Company’s notice.

The

Reprimand Letter stated that the Company failed to comply with the Rule when it issued the Excess Awards since the Excess Awards were

issued in excess of the shareholder approved 2019 Plan and therefore the Company was required to obtain shareholder approval under the

Rule, which requires prior shareholder approval before such issuance. As stated above, the Staff noted in the Reprimand Letter that while

the Staff determined that there were failures to comply with the Rule, those failures did not appear to have been the result of a deliberate

intent to avoid compliance, and that, as such, the Staff believes that delisting the Company’s securities is not an appropriate

sanction.

The

Reprimand Letter states that the Staff further considered, among other things, the fact that the Company had self-reported the violation

of Nasdaq’s prior shareholder approval requirement, and, since rectifying was not possible, it obtained subsequent ratification

by the Company’s shareholders of sufficient shares to cover prior grants and rescinded recent grants to officers and directors.

The Reprimand Letter stated that the Staff believes the Company inadvertently violated the Rules. The Reprimand Letter also noted that

the Company has committed to work with Nasdaq in the future to ensure compliance with Nasdaq Listing Rules. Accordingly, the Staff believes

it is appropriate to close these matters by issuing the Reprimand Letter in accordance with Listing Rule 5810(c)(4). Following disclosure

via this Current Report on Form 8-K, there is no further action required from the Company with regard to this matter. The Company accepts

the Staff’s determination and considers the matter closed.

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by

the undersigned hereunto duly authorized.

TON

STRATEGY COMPANY

Date:

June 23, 2026

By:

/s/

Sarah Olsen

Name:

Sarah

Olsen

Title:

Chief

Financial Officer

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Entity Registrant Name

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Entity Central Index Key

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Entity Tax Identification Number

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Entity Incorporation, State or Country Code

Entity Address, Address Line One

2300

W. Sahara Avenue

Entity Address, Address Line Two

Suite 800

Entity Address, City or Town

Las

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Entity Address, State or Province

Entity Address, Postal Zip Code

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City Area Code

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Local Phone Number

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