Popular entertainment firm, SRM has announced that it had entered into a securities purchase agreement with private investor for a $100,000,000 equity investment. The firm confirmed the development in a press release on Monday, adding that the partnership was for the advancement of blockchain technology.
Similarly, the firm plans to use part of the funds to initiate a TRON Token treasury strategy. In addition to this, the company also appointed the founder of Tron Blockchain, Justin Sun as its advisor. The firm also revealed its plan to rebrand and change its name into Tron.Inc.
In line with the securities purchase agreement, SRM will also issue an aggregate of 100,000 shares of its Series B Convertible Preferred Stock. As revealed, this stock can be converted into 200 million shares of common stock at the rate of $0.50 per share.
Upon the full exercise of its warrant, the strategic investment will become valued at $210,000,000. This will in turn enable SRM to build a substantial TRON Treasury Strategy.
As part of its investment strategy, SRM plans to implement a dividend policy upon the successful implementation of the TRX staking program. However, it is worth noting that this investment aligns with SRM goal of creating long-term value for shareholders. It aim to achieve this goal by capitalizing on the global adoption of blockchain and digital innovation.
SRM ceo gave his insight on the investment
Rich Miller, the Chief Executive Officer of SRM, shared his thoughts on the recent development. He expressed enthusiasm about his firm’s investment in shaping the future of next-generation financial infrastructure, highlighting the potential for innovation and progress in the industry. Miller also commended Tron’s steadfast commitment to expanding its leadership in cross-border settlements using US dollar stablecoins.
Tron blockchain founder also emphasized the importance of stablecoin and blockchain in revolutionizing global payment, enabling faster, cheaper, and more transparent transactions. Sun added that TRON will continue to be unrelenting in its effort to become the go-to protocol for on-chain settlement.
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