A company linked to Tron founder Justin Sun plans to go public in the U.S. through a reverse merger with SRM Entertainment, according to a Financial Times report.
IPO Plans and Deal Structure
Tron, Inc. is set to undergo a reverse merger with Nasdaq-listed SRM Entertainment. The deal is arranged by New York-based Dominari Securities, which has ties to Eric Trump and Donald Trump Jr. Eric Trump is expected to take a leadership role in the new company.
Financial Aspects and Strategy of Tron, Inc.
Initial funding for the new venture includes a $100 million equity investment, with potential expansion to $210 million through attached warrants. SRM Entertainment stated that these funds would support a TRX treasury strategy, starting with token contributions from within the Tron ecosystem. Justin Sun will serve as an advisor to the company. Following the announcement, TRX, the token of the Tron blockchain, rose about 3% to $0.28.
Context and Potential Implications
While Tron operates under a decentralized governance structure known as Tron DAO, Justin Sun remains influential within the ecosystem. He also holds stakes in other crypto businesses like HTX and Poloniex. After a private dinner with Donald Trump, Sun remarked that criticism of the TRUMP memecoin is 'short-sighted,' emphasizing the benefits of digital assets for U.S. crypto policy. Although the SEC has paused several cases, the Department of Justice continues to investigate Sun.
The potential IPO of Tron, Inc. under the leadership of Justin Sun and Eric Trump may significantly enhance the cryptocurrency's influence on the financial market and strengthen Tron's position within the digital assets ecosystem.
