The listed company SRM Entertainment will launch a TRX reserve strategy and rename itself to Tron Inc.

SRM Entertainment, Inc. (NASDAQ: SRM), a toy and souvenir design and development company, announced today that it has entered into a securities purchase agreement (SPA) with a private investor to receive a $100 million equity investment to launch its TRON Token (TRX) reserve strategy, Globenewswire reported on June 16. At the same time, TRON blockchain founder Justin SUN was appointed as the company’s advisor. Under the terms of the agreement, the Company will issue an aggregate of 100,000 Series B convertible preferred shares, which may be converted into 200 million shares of common stock at a conversion price of $0.50 per share, accompanied by 220 million warrants, also at a subscription price of $0.50 per share (collectively, the “Offering”). In addition, the company plans to change its name to “Tron Inc”. Dominari Securities LLC acted as exclusive placement agent for the offering. The strategic investment will be valued at $210 million when the warrants are fully executed, enabling SRM to build a sizable TRON reserve strategy. The transaction is in line with the company’s vision to leverage global trends in blockchain and digital innovation to create long-term value for shareholders. As part of the TRON reserve strategy, the company plans to introduce a dividend policy after the successful implementation of the TRX staking program.