SRM Entertainment Jumps Another 10% After 534% Surge on Tron Reverse Merger Deal
SRM Entertainment shares jumped another 10% in premarket trading on Tuesday.
Justin Sun’s digital asset platform Tron is preparing to go public in the United States through a reverse merger with SRM Entertainment, according to the Financial Times.
SRM Entertainment shares soared 533.8% on Monday.
The deal is being orchestrated by Dominari Securities, as reported by the Financial Times, which cited two unidentified people briefed on the matter.
The new company, which will be called Tron Inc, plans to buy and hold the Tron token as part of its business strategy.
Eric Trump is expected to take a role at the newly formed company following the completion of the merger.
The transaction will involve Tron injecting up to $210 million of token assets into the new company, significantly boosting its holdings.
A reverse merger allows a private company to become publicly traded by merging with an existing public company, often providing a faster path to public markets than a traditional initial public offering.
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