SRM, a U.S. publicly traded company, plans to rename itself Tron Inc and has signed a $100 million equity financing agreement, launching the TRX treasury strategy

TechFlow news, June 16 — SRM Entertainment, Inc., a U.S.-listed entertainment company, announced it has entered into a securities purchase agreement ("SPA") with a private investor to raise $100 million. SRM will use the funds to launch a TRON (TRX) treasury strategy.

Notably, the Financial Times previously reported that Tron is seeking a public listing via a reverse merger with SRM Entertainment. Justin Sun, founder of the TRON blockchain, has been appointed as an advisor to the company. The merged entity will be named Tron Inc. The strategic investment could reach a value of $210 million if all warrants are exercised.

SRM Entertainment rose 194.48% in pre-market trading, lifting its market capitalization to $25 million.