one Submissions filed by the Securities and Exchange Commission (SEC) are released on Monday Night outlines the relationship between Nevada companies Tron Dao, Justin Sun, and SRM Entertainment, which changed its name to Tron Inc.
The document details a private investment in a $100 million public equity (pipeline) transaction paid entirely in TRX
Token, which gives Sun’s father, Wake Sun, board control and a consultant position consistent with Tron a key governance role.
Weike was appointed chairman, and Zhihong Liu was also known as Steve Liu.
The transaction is structured as a private investment in public equity (pipeline) transactions. An investment vehicle owned by Weike purchased 100,000 shares of the first preferred shares of the SRM series B through TRX tokens, which can be converted into 200 million common shares and received a warrant of 220 million arrest for a strike price of $0.50.
Despite consistency, Tron Dao has no direct investment, governance rights or formal role in the SRM protocol, Liu said. “Tron Dao isn’t actually any part of the SRM transaction. It’s more of a Sun Sun deal.”
There is also no mention of DAO itself in the 8K file. Its impact appears to be indirect, reflected in the context of newly appointed board members associated with the TRON ecosystem.
according to Financial TimesThe renamed company plans to buy and hold $210 million worth of TRX, similar to how MicroStrategy built a Bitcoin-based corporate Treasury.
The deal was arranged by Dominari Securities, which has brokers affiliated with Dominari Holdings, whose advisory boards include Donald Trump Jr. and Eric Trump, located in the Trump Tower in Manhattan.
According to the 8K filing, the trading lawyer for Dominari Securities was paid $50,000.
SRM is the listed TRON entity, down 15% and traded at $7.73 as the New York market closed. this
The token fell 2.5% and traded at $0.27.
