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 is planning a $200 million share offering to expand its TRX (Tron) treasury. The company, currently holding approximately $237 million in TRX tokens, aims to fund additional acquisitions through the new at-the-market (ATM) share offering. Tron's ATM deal, which will be handled by Clear Street LLC, allows the company to periodically sell shares at a par value of $0.0001 through an agent with a commission of up to 3% of gross proceeds.
The existing TRX acquisition program, initiated in February, called for purchasing around $50,000 worth of TRX daily for 360 consecutive days. Currently, Tron's treasury holds 718.9 million TRX tokens, valued at approximately $237 million following a recent acquisition of 149,369 TRX at an average price of $0.3347. Tron's shares experienced a 4.7% decline on Thursday, following a roughly 67% decline over the past 12 months.
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