Tron Inc., the company that is quoted in Nasdaq that previously quoted as a penny under SRM Entertainment, is looking for the approval of US regulators to raise $ 1 billion to expand their TRON (TRX) holdings, after its reverse fusion with the Justin Sun Blockchain project.
In accordance with its presentation of form S-3 before the EE. UU., Tron Inc. Securities Commission, plans to raise funds through a combination of common actions, preferred actions, debt values, orders and rights, or any combination of them.
The income will be used to expand the company’s TRX Treasure, which already has more than 365 million TRX tokens after its reverse fusion last month.
As previously reported by Cointelegraph, Tron Inc. initially aimed to build a TRX reservation worth up to $ 210 million and had obtained $ 100 million in capital investments to support those purchases.
In his presentation of the SEC, Tron Inc. described a treasure reserve strategy consisting of cash, short -term equivalents and Trx tokens.
“We see our TRX Tokens holdings as long -term holdings and we hope to continue accumulating Trx Trx,” says the presentation.
While TRX fell 5% on Monday, Tron Inc. shares increased more than 23% in the news of their financing application, quoting above $ 11.80. Previously a penny action under the name of SRM Entertainment, the company has recovered sharply since its inverse fusion and brand change. According to Yahoo Finance, the action has increased more than 1,300% since June 10.
The company’s market capitalization has increased to more than $ 200 million.
Related: Eric Trump is Justin Sun’s “greatest fan”, but denies participation in Tron’s public company
Cryptographic treasure strategies gain traction
Tron Inc. is among many companies that actively build corporate treasure bonds centered in crypto. Most of these strategies focus on Bitcoin (BTC), inspired by the play book by the President of the Strategy Executive Michael Saylor.
According to industry data, public companies, including the strategy and several Bitcoin miners, have 923,327 BTC in their balance sheets as of July 28.
On Monday, Metaplanet in Japan joined his Bitcoin treasure with a purchase of 780 BTC, which carries its total holdings to 17,132 BTC.
Last week, Satsuma Technologies of the United Kingdom raised $ 135 million to finance one of the largest Bitcoin Treasury purchases in the country.
In Canada, the Bitcoin Treasury Corporation plans to revive in the Toronto Stock Exchange after raising $ 92 million to acquire BTC.
Crypto Treasury strategies are also expanding to other assets. As Condelegraph reported, former Holdings Capital Executives have raised $ 100 million to establish a treasure centered on BNB BNB (BNB) of Binance.
Related: The strategy expands the offer of preferred shares at $ 2b in the middle of a bitcoin-report rally
