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Nasdaq-listed Tron sets up $200M ATM share offering to fuel TRX acquisitions

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Nasdaq-listed Tron sets up $200M ATM share offering to fuel TRX acquisitions

Written by Zoltan Vardai staff writer Edited by Robert Lakin staff editor

Nasdaq-listed Tron sets up $200M ATM share offering to fuel TRX acquisitions

The Nasdaq-listed treasury company holds about $237 million in TRX tokens and plans to raise additional capital to fund its purchases, alongside its daily accumulation.

Nasdaq-listed Tron (TRON) has filed for a new at-the-market (ATM) share offering allowing it to sell up to $200 million of common stock that will fund an even-larger Tron (TRX) treasury.

The deal allows Tron to periodically sell shares of its common stock at $0.0001 par value through Clear Street, which acts as an agent and retains a commission of up to 3% of gross proceeds, according to a Wednesday filing with the Securities and Exchange Commission (SEC).

The company’s existing TRX accumulation program , announced in February, called for the purchase of approximately $50,000 worth of TRX per day for 360 consecutive days. Tron’s treasury holds 718.9 million TRX tokens, currently worth about $237 million, after the company’s latest acquisition of 149,369 TRX at an average price of $0.3347 on Thursday.

Tron SEC filing on a $200 million ATM program with Clear Street LLC. Source: sec.gov

The company’s shares opened 4.7% lower on Thursday, poised to extend their roughlly 67% 12-month decline, according to Yahoo Finance .

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.



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