A deposit of the Securities and Exchange (Sec) Commission displayed Monday evening describes the relationship between Tron Dao, Justin Sun and SRM Entertainment, a Nevada company changing its name to the Tron Inc.
The deposit details a private investment of $ 100 million in a public equity agreement (PIP), fully paid in TRX
Tokens, which gives the Father du Sun, Weike Sun, control of the board of directors and positions the advisers lined up by tron in key governance roles.
Weike was appointed president, while Zhihong Liu, also known as Steve Liu, a strategic advisor to Dao and the CEO of Stablecoin from Techteryx, and Zi Yang, a manager superior to Tronan, joined the file, the remuneration of the board of directors and the appointment committees, according to the file.
The agreement was structured as a private investment in the public shares agreement (PIP). An investment vehicle belonging to Weike bought 100,000 privileged shares SRM Series B via TRX tokens, convertible into 200 million ordinary shares and received 220 million subscription vouchers at an exercise price of $ 0.50.
Despite the appearance of alignment, Tron DAO has no direct investment, governance rights or formal role in the SRM agreement, said Liu. “Tron DAO is not really part of the agreement for SRM. It is more the transaction of the Sun Sun.”
The DAO itself is not mentioned in the 8K ranking either. Its influence seems indirect, reflected through the history of the new members of the board of directors linked to the Tron ecosystem.
According to the Financial timeThe renowned company plans to buy and contain up to $ 210 million in TRX, similar to the way Microstrategy has built a Bitcoin -based corporate treasure.
The agreement was organized by Dominari Securities, a brokerage affiliated with Dominari Holdings, whose advisory council includes Donald Trump Jr. and Eric Trump and is located in the Trump tower in Manhattan.
Dominari Securities was paid $ 50,000 for the transaction council, according to the 8K file.
SRM, the tron entity listed, is down 15%, negotiating $ 7.73 while the market closed in New York. THE
The token is down 2.5%, negotiating $ 0.27.
