US EditionTron IPO News: Tron Inc. Deal Gives Justin Sun’s Father Control of Public Firm Via $100M Token Deal
- SRM Entertainment, a Nasdaq-listed company, announced on Monday a $100 million private investment to purchase TRON tokens through a reverse merger.
- The deal arose amid a legal case where Justin Sun previously faced SEC securities fraud charges and involved a Securities Purchase Agreement paying entirely in TRX tokens.
- SRM is set to change its name to Tron Inc. and plans to issue a combination of preferred stock and warrants that collectively value the transaction at as much as $210 million. Justin Sun will serve as an advisor, while Weike Sun is expected to assume control of the company's board.
- Shares of SRM surged 460% to about $140 million market cap after the announcement, while TRX tokens rallied above $0.27 despite a 2.5% recent dip, and Dominari Securities, affiliated with the Trump family, arranged the financing.
- The transaction enables TRON's public listing in the US, positions Tron-aligned advisors in governance, and reflects a strategic effort by Sun to strengthen ties with the Trump family amid a broader crypto market rally.
25 Articles
25 Articles
TRON to go public via reverse merger after U.S. pauses probes into founder Justin Sun - Tech Startups
Tron, the crypto project founded by billionaire Justin Sun, is heading to the public markets through an unexpected route: a reverse merger with SRM Entertainment, a toy and souvenir company with ties to some of the world’s biggest theme parks. […] The post TRON to go public via reverse merger after U.S. pauses probes into founder Justin Sun first appeared on Tech Startups.
Trump Crypto Ally Justin Sun Poised to Take Tron Public Through Reverse Merger
Justin Sun, the China-born crypto entrepreneur with ties to the Trump family who saw a federal investigation of his business interests paused earlier this year, is set to take his Tron blockchain platform public in the US through a reverse merger.
Billionaire Justin Sun's Bold Reverse Merger Sparks $TRX Surge
The post Billionaire Justin Sun’s Bold Reverse Merger Sparks $TRX Surge appeared on BitcoinEthereumNews.com. Tron ($TRX), the cryptocurrency powerhouse founded by billionaire Justin Sun, has announced a groundbreaking plan to become publicly traded in the U.S. through a reverse merger with Nasdaq-listed SRM Entertainment. The news has sparked a substantial price jump for the $TRX token and raised intriguing questions about the future direction o…
CryptoPanic
BlockheadTron's Public Market Debut Signals New Era for Crypto-Trump Alliance
Justin Sun's Tron blockchain platform is set to become the latest cryptocurrency venture to enter U. S. public markets, marking a significant milestone for the controversial crypto billionaire and highlighting the growing influence of Trump family connections in the digital asset space.
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
To view factuality data please Upgrade to Premium
