Toy design and development company SRM Entertainment announced that it will raise $100 million in equity to launch its TRON (TRX) coin reserve strategy and will change its company name to “Tron Inc.” According to a press release issued by the company, SRM Entertainment has signed a securities purchase agreement (SPA) with a private investor. Under the agreement, the company will issue 100,000 Series B Convertible Preferred Shares. These shares will be convertible into a total of 200 million common shares at a conversion price of $0.50 per share. In addition, the investor will be provided with 220 million warrants, which can be exercised at a price of $0.50. Related News: Developers Reveal Reason Behind 85% Drop in Altcoin Price - Alleges Being Attacked Justin Sun, founder of the TRON blockchain, has also been appointed as an advisor to SRM Entertainment. This investment will reach a total value of $210 million once the warrants are fully exercised and will allow the company to strengthen its TRON coin reserve strategy. The investment was exclusively represented by Dominari Securities LLC. With this strategic step, the company aims to create long-term value for its shareholders by taking advantage of global blockchain and digital innovation trends. As part of the TRON reserve strategy, SRM plans to launch a dividend distribution policy after the successful implementation of the TRX staking program. *This is not investment advice. Continue Reading: Nasdaq-listed Company Announces Plans to Raise $100 Million to Purchase Surprise Altcoin – Founder Joins Executive Team
