Tron Inc. Deal Provides Justin Solar’s Father Management of Public Agency Through $100M Token Deal
A Securities and Trade Fee (SEC) submitting posted Monday evening outlines the connection between Tron DAO, Justin Solar, and SRM Leisure, a Nevada firm within the course of of fixing its identify to Tron Inc.
The submitting particulars a $100 million personal funding in public fairness (PIPE) deal, paid solely in TRX
tokens, that offers Solar’s father, Weike Solar, board management and positions Tron-aligned advisors in key governance roles.
Weike was named chairman, whereas Zhihong Liu, also referred to as Steve Liu, a strategic adviser to Tron DAO and the CEO of stablecoin issuer Techteryx, and Zi Yang, a senior govt at Tronscan, joined the board’s audit, compensation, and nominating committees, in keeping with the submitting.
The deal was structured as a personal funding in public fairness (PIPE) deal. An funding car owned by Weike bought 100,000 shares of SRM Sequence B most popular Inventory through TRX tokens, convertible into 200 million widespread shares, and obtained 220 million warrants at a strike worth of $0.50.
Regardless of the looks of alignment, Tron DAO has no direct funding, governance rights, or formal position within the SRM deal, stated Liu. “Tron DAO is just not actually any a part of the deal for SRM. It’s extra of the senior Solar’s transaction.”
The DAO itself is just not talked about within the 8K submitting both. Its affect seems to be oblique, mirrored by way of the backgrounds of newly appointed board members tied to the Tron ecosystem.
In response to the Monetary Instances, the renamed agency plans to purchase and maintain as much as $210 million value of TRX, much like how MicroStrategy constructed a bitcoin-based company treasury.
The deal was organized by Dominari Securities, a brokerage affiliated with Dominari Holdings, whose advisory board consists of Donald Trump Jr. and Eric Trump and is positioned inside Trump Tower in Manhattan.
Dominari Securities was paid $50,000 for the counsel for the transaction, in keeping with the 8K submitting.
SRM, the listed Tron entity, is down 15%, buying and selling at $7.73 because the market closed in New York. The
token is down 2.5%, buying and selling at $0.27.
