SRM launches TRON treasury strategy with $100M equity investment

SRM Entertainment (SRM) announced that it has entered into a Securities Purchase Agreement with a private investor for a $100,000,000 equity investment that will be used by SRM to initiate a TRON Token Treasury Strategy. Along with the strategic investment – Justin Sun, founder of TRON blockchain, has been named as an advisor to the Company. Pursuant to the terms and conditions of the SPA, the Company will issue an aggregate of 100,000 shares of its Series B Convertible Preferred Stock, convertible into a total of 200 million shares of common stock at a conversion price of $0.50 per share, and 220 million warrants, to acquire up to an aggregate of 220 million shares of common stock at an exercise price of $0.50 per share. In addition, the Company plans to change its name to Tron Inc. “As blockchain technology gains wider adoption globally, TRON has become the industry leader for cross border settlement in US dollar stablecoin. We are excited to invest into the future of the world’s next generation financial infrastructure,” said Rich Miller, Chief Executive Officer of SRM.