Market Chatter: Tron to Go Public in US via Reverse Merger with SRM Entertainment

Tron, the digital asset platform founded by Hong Kong crypto billionaire Justin Sun, is going public in the US through a reverse merger with Nasdaq-listed SRM Entertainment, the Financial Times reported Monday, citing two people briefed on the matter. Separately, SRM said it would raise $100 million from a private investor to kick off a TRON Token (TRX/USD) treasury strategy. The financing includes 100,000 Series B preferred shares, convertible into 200 million common shares, and 220 million warrants priced at $0.50 each. The fully exercised warrants would bring the total transaction value to $210 million and support its long-term blockchain investment strategy, SRM said in a Monday press release. SRM plans to adopt a dividend policy tied to TRX staking and said Justin Sun will serve as an advisor. Dominari is acting as the exclusive placement agent. Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.