SRM Entertainment, listed on Nasdaq, announced plans to build a $210 million Tron (TRX) treasury and rebrand as Tron Inc. The firm secured a $100 million equity investment through a securities purchase agreement with a private investor to fund this strategy. Tron founder Justin Sun will serve as an adviser to the newly rebranded company.
As part of the deal, SRM will issue 100,000 shares of Series B convertible preferred stock. These shares can be converted into 200 million common shares at $0.50 per share, along with 220 million warrants that are also exercisable at $0.50 per share. This setup, valued at $210 million if all warrants are exercised, will help build a substantial Tron-focused treasury strategy, according to the company.
Dominari Securities, the bank that structured the deal, has reported ties to the Trump family, and is expected to take a leadership role at Tron Inc. Tron Inc. also plans to launch a TRX staking program and a dividend policy for shareholders.