Tron Inc., the company listed at the Nasdaq which was previously negotiated as a Penny stock under SRM Entertainment, seeks the approval of American regulators to lift $ 1 billion to extend its Tron (TRX) assets, after its inverted merger with Justin Sun’s Blockchain project.
According to its S-3 form filed with the Securities and Exchange Commission of the United States, Tron Inc. plans to collect funds through a mixture of ordinary actions, privileged actions, debt securities, mandates and rights-or any combination.
The product will expand the company’s Treasury of the company, which already contains more than 365 million TRX tokens after its reversed merger last month.
As indicated above by Cintelegraph, Tron Inc. initially aimed to build a TRX reserve of a value of up to $ 210 million and had obtained $ 100 million in equity investments to support these purchases.
In its deposit of the SEC, Tron Inc. described a cash reserve strategy made up of cash, short -term equivalents and TRX tokens.
“We consider our TRX tokens titles as long -term assets and we plan to continue to accumulate TRX tokens,” says the file.
While TRX fell 5% on Monday, Tron Inc. shares increased by more than 23% on the news of its financing request, trading above $ 11.80. Formerly a stock of Penny under the name of SRM Entertainment, the company has strongly rallied since its inverted merger and its brand change. According to Yahoo Finance, the action has increased by more than 1,300% since June 10.
The company’s market capitalization increased to more than $ 200 million.
In relation: Eric Trump is “ biggest fan ‘from Justin Sun, but denies participation in Tron’s public enterprise
Cryptography treasure strategies gain ground
Tron Inc. is one of many companies that actively build treasury bons from business -oriented business. Most of these strategies are focused on Bitcoin (BTC), inspired by the game book of the president of the Michael Saylor strategy.
According to industry data, public enterprises, including strategy and various bitcoin minors, hold 923,327 BTC on their balance sheets on July 28.
Monday, Japanese Metaplanet added to his Bitcoin treasure with a purchase of 780 BTC, bringing his total assets to 17,132 BTC.
Last week, Satsuma’s United Kingdom technologies raised $ 135 million to finance one of the largest bitcoin cash purchases in the country.
In Canada, Bitcoin Treasury Corporation plans to replace the Toronto Stock Exchange after having collected $ 92 million to acquire BTC.
Cryptographic cash strategies also develop in other assets. As Cintelelelegraph reported, the former leaders of Coral Capital Holdings would have collected $ 100 million to establish a treasure focused on the BNB token (BNB) in Binance.
In relation: The strategy expands privileged actions at $ 2 billion in the middle of the rally fueled by Bitcoin – Report
