Tron Inc. has submitted itself to pick up up to $ 1 billion as part of an ambitious push to grow his TRX token reserves, using a dramatic increase in stock after a recent merger.
The company, previously known as SRM Entertainment, unveiled the fundraising plans in a Form S-3 registration statement at the US Securities and Exchange Commission.
The proposed increase would be due to a combination of equity and debt instruments, including ordinary shares, preference shares, warrants and other effects.
Tron Inc. was born after SRM Entertainment merged last month with the Blockchain project by Justin Sun and renamed, which shifted his focus to building a digital assets box vessel anchored by the native token of the Tron Blockchain, TRX.
The company has already collected more than 365 million TRX -Tokens and aims to considerably increase its participations with the help of the proceeds from the new offer.
“We consider our TRX-Tokens companies to continue to collect TRX tokens,” the company stated in the submission, which also described a broader treasury strategy that includes cash and short-term ratiencies.
Shares of Tron Inc. On Monday, more than 23% rose and traded above $ 11.80, a strong increase compared to Penny Stock levels before the merger. The share has been more than 1,300% since 10 June and increases the market capitalization of the company over $ 200 million.
The movement of Tron Inc. reflects a broader trend at public companies that take crypto-oriented treasury strategies. Although most have focused on Bitcoin (BTC), explore a growing number of altcoins.
Recent examples include the Metaplanet, which has added 780 BTC to its balance sheet last week, and Satsuma Technologies, established in the VK, collected $ 135 million for a similar initiative.
In Canada, Bitcoin Treasury Corporation is preparing for the Toronto Stock Exchange after obtaining $ 92 million in financing.
Outside of Bitcoin, other digital assets also win grip. A new fund, led by former managers of Coral Capital Holdings, reportedly raised $ 100 million to build a treasury position in BNB, while Sharplink Gaming has become one of the largest Ethereum (ETH) holders.
With its aggressive pivot to TRX and a capital plan of a billion dollar in motion, Tron Inc. positions themselves as one of the few public companies that pursue a strategy for a business shy, aimed at an altcoin instead of Bitcoin.