TRON is taking a bold step toward expansion – the company has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) that could allow it to raise up to $1 billion through a mix of securities.
By submitting Form S-3, TRON can issue a wide range of financial instruments, including common and preferred shares, bonds, warrants, rights, or combined units. While specific pricing or dates for the offering remain undisclosed, this marks one of the company’s most ambitious financial moves to date.
A Massive Investment and Payment in TRX
This SEC filing follows just weeks after TRON completed a $100 million private investment in public equity (PIPE) on June 16. The deal included the sale of 100,000 Series B preferred shares, each worth $1,000, convertible into 200 million common shares at a price of $0.50 per share, along with 220 million warrants.
The investor paid the full amount in TRX tokens, valued at the June 15 closing price, and deposited them into a custody wallet managed by BiT Global Trust Limited, a registered Hong Kong-based trustee firm.
New Leadership and Internal Restructuring
As part of the June agreement, Justin Sun signed a consulting contract with the company, while his father, Weike Sun, was appointed Chairman of the Board. Zhihong Liu, a former executive at Ant Financial, Fidelity, and Nomura, and Zi Yang, a young blockchain entrepreneur, also joined the board.
The Series B shares carry voting rights equal to the number of common shares into which they convert, but voting power is capped at 19.99% until shareholder approval is secured. This structure gives investors influence without triggering control thresholds, according to board member Liu.
Executive Contracts and Crypto-Excluded Bonuses
The offering also impacted contracts of key TRON executives. CEO Richard Miller, CFO Douglas McKinnon, President Taft Flittner, and VP Deborah McDaniel-Hand agreed not to resign or seek severance due to the PIPE offering.
In addition, it was clarified that any executive bonuses will be calculated only on the company’s legacy consumer business, and not on its crypto operations. McKinnon stepped down from the board but continues as CFO, stating: “There is no conflict of interest. I am focused on operational stability.”
Previous Offer Signals Broader Plan
Just weeks earlier, on May 21, TRON sold 5,000 Series A preferred shares to another investor for $5 million. These are convertible into 8.9 million common shares at $0.56 per share and come with 8.9 million warrants priced at $0.65, with a two-year expiration.
Series A warrants include ownership limits of 4.99% or 9.99%, depending on the holder’s choice. On May 22, TRON filed the required certificate of designation and adjusted the conversion price the following day.
Dominari Securities acted as placement agent for both the May and June offerings, receiving $100,000 in expenses and 535,714 placement warrants for May, plus another $50,000 in expenses for June.
Conclusion
With Justin Sun at the helm, TRON appears to be entering a new era of financial strategy. The scale and timing of these deals suggest the company is not just aiming to grow within crypto—but to make a broader mark across global capital markets.
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