After completing a reverse merger with Sun Yuchen's blockchain project, Nasdaq-listed Tron Inc. — previously traded as SRM Entertainment as a penny stock — is seeking approval from U.S. regulators to raise $1 billion to expand its Tron (TRX) reserves.
According to its S-3 filing submitted to the U.S. Securities and Exchange Commission, Tron plans to raise this capital through common stock, preferred stock, debt securities, warrants, and rights — or any combination of the above.
The funds raised will be used to increase the company's TRX reserves, which have exceeded 365 million TRX tokens since completing the reverse merger last month.
As previously reported by Cointelegraph, Tron's initial goal was to establish a TRX reserve valued at up to $210 million, and it has secured $100 million in equity investment to support this plan.
In the documents submitted to the SEC, Tron detailed a treasury reserve strategy consisting of cash, short-term equivalents, and TRX tokens.
The filing explicitly states: "We view our holdings of TRX tokens as a long-term investment and plan to continue accumulating TRX tokens."
Despite a 5% drop in TRX prices on Monday, Tron's stock price surged over 23% following the financing application announcement, trading above $11.80. The company, which traded under the name SRM Entertainment, has performed impressively since the reverse merger and rebranding. According to Yahoo Finance, the stock has skyrocketed over 1,300% since June 10.
The company's market capitalization has rapidly expanded to over $200 million.
Tron is just one of many companies actively building cryptocurrency reserves. Industry experts note that most of these strategies center around Bitcoin (BTC), inspired by the strategic thinking of Strategy's Executive Chairman Michael Saylor.
Industry data shows that as of July 28, publicly traded companies, including Strategy and various Bitcoin mining firms, collectively hold 923,327 BTC on their balance sheets.
On Monday, Japan's Metaplanet further increased its Bitcoin reserves, acquiring an additional 780 BTC, bringing its total holdings to 17,132 BTC.
Last week, the UK’s Satsuma Technologies raised $135 million to implement one of the country's largest Bitcoin reserve purchase plans.
In Canada, Bitcoin Treasury Corporation plans to relist on the Toronto Stock Exchange after raising $92 million to acquire BTC.
Cryptocurrency reserve strategies are also expanding to other assets. According to Cointelegraph, a former executive team from Coral Capital Holdings has reportedly successfully raised $100 million specifically to establish a reserve fund centered around Binance Coin (BNB).
Related: Metaplanet increases its Bitcoin holdings by 790 BTC, now holding 17,130 BTC worth over $2 billion.
Original article: “As Stock Prices Rebound, Tron Seeks $1 Billion Financing to Increase TRX Holdings”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
