SRM has started a major transition. The Nasdaq-listed firm signed a $100 million deal with a private investor. The goal is to build a Tron token (TRX) treasury. The agreement gives SRM enough leverage to create a digital asset reserve worth up to $210 million. The full value depends on the future use of issued warrants.
This also lines up with the fact that the company is going to be renamed Tron Inc., which shows its close relationship with blockchain technology. SRM also appointed Justin Sun, who is the founder of Tron Blockchain, as their official advisor. His intervention brings about industrial experience and further boosts confidence among crypto investors.
SRM eyes blockchain growth path
Under the agreement, 100000 series B convertible preferred shares will be issued. These shares convert into 200 million common shares. In addition, SRM will issue 220 million warrants. Which Will allow investors to buy the same number of shares at $0.50 each.
In the deal, Dominari Securities LLC was the sole placement agent. SRM intends to utilize the money in the development of a TRX based treasury strategy. This will involve setting up a dividend plan after TRX staking begins. The company anticipates that that strategy will create long-term value.
Recognizing blockchain technology is a very important part of the planned financial systems going forward. The Tron blockchain alone processes over $20 billion in stablecoin transfers daily. Over 310 million global user accounts have also used it. These numbers hint that it is among the top platforms for transferring stablecoins.
SRM securities are limited to accredited investors
The utilization of this activity is the main objective of SRM. The company will be backing the Tron ecosystem and aspires to develop along with it. This move makes the firm feel that its present position is at the heart of a fast-growing digital economy. At present, SRM only manufactures and sells toys and customized merchandise for global theme parks.
Artifacts of these companies hang on the walls and shelves of Disney, Universal, and SeaWorld theme parks. This implies that the company is moving from physical products into blockchain assets through this deal. This transaction includes securities that the SEC has not registered. Under current terms, only accredited investors can buy these securities.
The company made it clear that this announcement does not imply a public offer or sale of those securities. This plan marks the beginning of a new chapter for SRM. The rebranding to Tron Inc. is a clear indication of the full shift to blockchain involvement. it now will operate at the crossroads of global finance and digital innovation.
