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Tron Inc. (NASDAQ:TRON) announced the issuance of 220,000,000 shares of common stock to Bravemorning Limited, an entity controlled by board member Mr. Weike Sun, following the full exercise of previously issued PIPE warrants. The transaction was completed Friday, with Bravemorning paying $110,000,000 in the form of 312,500,100 TRX tokens as consideration for the shares. The company’s stock, which has surged over 955% in the past six months according to InvestingPro data, is currently trading above its Fair Value.
According to a press release statement based on the company’s recent SEC filing, the PIPE warrants, originally issued on June 16, 2025, allowed Bravemorning to acquire up to 220,000,000 shares at an exercise price of $0.50 per share. An amendment to the warrants, authorized by the board on August 25, 2025 (excluding Mr. Sun, who recused himself), permitted the exercise price to be paid in TRX tokens in addition to cash or cashless exercise.
The shares were issued on August 29, 2025, under an exemption from registration pursuant to Section 4(a)(2) of the Securities Act of 1933. Following the transaction, Mr. Sun, through Bravemorning, now holds approximately 86.6% of Tron Inc.’s outstanding shares, resulting in a change of control of the company. Prior to this transaction, no single shareholder controlled the company.
Additionally, on August 29, 2025, Tron Inc. filed a Certificate of Amendment to its Articles of Incorporation with the Nevada Secretary of State, increasing the company’s authorized common stock from 100,000,000 to 1,000,000,000 shares. This amendment had been previously approved by shareholders.
Tron Inc. is listed on the Nasdaq Capital Market under the symbol TRON. The company was formerly known as SRM Entertainment , Inc. All information is based on the company’s press release statement and the related SEC filing.
In other recent news, Tron Inc. announced an amendment to its warrant terms, allowing the exercise price to be paid in TRON tokens (TRX) in addition to cash or cashless options. This amendment applies to warrants issued as part of a private placement of Series B Convertible Preferred Stock. Additionally, SRM Entertainment, now known as Tron Inc., has changed its corporate name and ticker symbol to reflect its strategic shift towards a TRON treasury strategy. The company recently completed a $100 million TRON Treasury launch, becoming the largest publicly traded holder of TRON tokens. Tron Inc. has staked its treasury holdings of over 365 million TRON tokens through JustLend, which could yield up to 10% annually. Furthermore, the company entered into a Securities Purchase Agreement for a private investment in public equity (PIPE) offering, involving Series B Convertible Preferred Stock and warrants. These developments mark significant strategic moves for Tron Inc. as it positions itself in the cryptocurrency space.
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