Tron Inc., formerly known as SRM Entertainment, has filed a $1 billion securities registration with the U.S. Securities and Exchange Commission (SEC) to bolster its holdings of TRX tokens, the native cryptocurrency of the Tron blockchain. This move follows the company's recent rebranding and strategic pivot towards integrating blockchain technology into its operations.
The SEC filing outlines plans to raise funds through a combination of equity and debt instruments, including common stock, preferred stock, debt securities, warrants, and rights. The proceeds are intended to increase the company's TRX reserves, aligning with its long-term strategy to support the growth and stability of the Tron blockchain ecosystem.
Since its merger and rebranding, Tron Inc. has experienced significant stock performance, with shares rising from below $1 to above $11.80, propelling its market capitalization over $200 million. The company currently holds over 365 million TRX tokens and aims to further accumulate these tokens to strengthen its position in the blockchain space.
Justin Sun, founder of the Tron blockchain, has been appointed as a strategic advisor to the company, bringing his expertise to guide Tron Inc.'s blockchain-focused initiatives. This collaboration underscores the company's commitment to leveraging blockchain technology to drive innovation and value creation.
Tron Inc.'s strategic shift reflects a broader trend of companies integrating blockchain technology into their business models, aiming to capitalize on the growing adoption of decentralized finance and digital assets.