Publicly listed company SRM Entertainment will initiate a TRX Reserve Strategy and rebrand as Tron Inc.

According to BlockBeats, on June 16, as reported by Globenewswire, SRM Entertainment, Inc. (NASDAQ: SRM), a company specializing in the design and development of toys and collectibles, announced today that it has entered into a Securities Purchase Agreement (SPA) with a private investor, securing $100 million in equity investment to launch a TRON token (TRX) reserve strategy. Meanwhile, TRON blockchain founder Justin SUN has been appointed as an advisor to the company.

Under the terms of the agreement, the company will issue a total of 100,000 shares of Series B convertible preferred stock. These shares can be converted into 200 million shares of common stock at a conversion price of $0.50 per share and will be accompanied by 220 million warrants with an exercise price also set at $0.50 per share (collectively referred to as the "Offering"). In addition, the company plans to change its name to "Tron Inc."

Dominari Securities LLC served as the exclusive placement agent for this offering. Upon full exercise of the warrants, the strategic investment will reach a value of $210 million, enabling SRM to establish a substantial TRON reserve strategy. This transaction is aligned with the company’s vision of leveraging global blockchain and digital innovation trends to create long-term value for its shareholders. As part of the TRON reserve strategy, the company plans to introduce a dividend policy following the successful implementation of the TRX staking program.