Tron Inc. seeks $1B to grow TRX holdings as stock rallies
The former penny stock is riding a 1,300% rally post-merger, as it looks to deepen its crypto treasury strategy with a billion-dollar funding push.
Tron Inc., the Nasdaq-listed company that previously traded as a penny stock under SRM Entertainment, is seeking approval from US regulators to raise $1 billion to expand its Tron (TRX) holdings, following its reverse merger with Justin Sun’s blockchain project.
According to its Form S-3 filing with the US Securities and Exchange Commission, Tron Inc. plans to raise the funds through a mix of common stock, preferred stock, debt securities, warrants and rights — or any combination thereof.
The proceeds will go toward expanding the company’s TRX treasury, which already holds over 365 million TRX tokens following its reverse merger last month.
