SRM Entertainment has announced plans to raise $100 million to implement its TRON reserve strategy and will change its name to Tron Inc.
Investment Details
SRM Entertainment signed a securities purchase agreement with a private investor. Under the agreement, 100,000 Series B Convertible Preferred Shares will be issued, which can be converted into a total of 200 million common shares at a price of $0.50 per share. The investor will also receive 220 million warrants at the same price.
Name Change and Appointment
Justin Sun, founder of the TRON blockchain, has been appointed as an advisor to SRM Entertainment. This change coincides with the company's rebranding to 'Tron Inc.'.
TRON Reserve Strategy
The total value of the investment will reach $210 million once the warrants are fully exercised, allowing the company to strengthen its TRON reserve strategy. As part of this strategy, SRM plans to launch a dividend distribution policy following the successful implementation of the TRX staking program.
These steps are aimed at creating long-term value for the company's shareholders and leveraging global trends in blockchain and digital innovation.
