The company announced Monday that Nasdaq-listed SRM Entertainment will launch a Tron Corporate Treasury of up to $210 million and change its name to Tron Inc.
according to Announced the news, SRM signed a securities purchase agreement with private investors to fund TRON with a $100 million equity investment (trx) Treasury strategy. Tron founder Justin Sun will also join the company as a consultant.
As part of the transaction, SRM Entertainment will issue 100,000 shares of its Series B convertible preferred shares. The stock can be converted into 200 million common shares at a conversion price of $0.50 per share, and 220 million arrest warrants at an exercise price of $0.50 per share to 220 million common shares.
“The strategic investment is worth $2.1 million after the full exercise of the arrest warrant, allowing SRM to develop a large number of Tron treasury strategies,” the company said. Dominari Securities, the bank that structured the deal, It is said that There are connections with the family of US President Donald Trump. foot Report Trump’s son Eric Trump is expected to play a role in the new brand’s businesses.
Related: Blockchain Group Raises $340 million in Bitcoin Treasury
Tron Inc. Eye Accumulation and Dividend Strategy
Tron Inc. plans to implement dividend policies after using company assets to implement the TRX Staking program. In the announcement, Tron’s founder Justin Sun said blockchain and stable people are seeing more and more in the real world. He added:
“With over 310 million international user accounts and an average daily transaction of YTD (end of the year), Tron strives to be the preferred protocol for OnChain Settlement, a global population of the world.”
The announcement follows mid-May data, indicating that Stablecoin issuer Tether has contributed another $1 billion in USDT tokens on the TRON network, driving its authorized USDT Supply of Ethereum.
Related: Trump Media’s Bitcoin Treasury Registration “Announced to Be Effective”
U.S. regulators buried the axe
The development happened amid regulatory thaw between the SEC and the Sun. In amended lawsuit against the Sun, SEC claims TRON founder “travels extensively” to the countrygranting it jurisdiction.
Late February, SEC and Sun Requesting federal courts to cease regulators’ cases Oppose the Sun to facilitate reconciliation negotiations. In April, he Revealed that he has Purchased the wallet with the largest share of Trump’s official memorials, making him eligible for dinner and reception with the U.S. president.
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