- Tron filed for a $200 million at-the-market share offering to raise capital for TRX acquisitions.
- The company holds about $237 million worth of TRX tokens and already runs a daily accumulation program.
- Clear Street will act as agent with a commission of up to 3% of gross proceeds.
- Tron’s latest acquisition was 149,369 TRX at an average price of $0.3347.
Nasdaq-listed Tron has filed for a new at-the-market share offering allowing it to sell up to $200 million of common stock to fund even-larger TRX treasury purchases, according to a Wednesday SEC filing. The company’s treasury currently holds 718.9 million TRX tokens worth about $237 million.
Meanwhile, Tron’s existing accumulation program, announced in February, calls for purchasing approximately $50,000 worth of TRX per day for 360 consecutive days. Consequently, the new offering will supplement this daily accumulation.
Clear Street will act as agent and retain a commission of up to 3% of gross proceeds. On Thursday, the company made its latest acquisition of 149,369 TRX at an average price of $0.3347.
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