SRM Entertainment completes IPO of 1.25M shares at $5.00, raises $6.25M gross, lists on Nasdaq under SRM

Tron Inc.

IPO of 1,250,000 shares at $5.00/share, gross proceeds $6.25M, net proceeds ~$5.3M.
Shares began trading on Nasdaq Capital Market under symbol SRM on August 15, 2023.
Underwriters granted 45-day over-allotment option for up to 187,500 additional shares.
CFO Douglas McKinnon appointed; base salary $181,500, annual 10% increase, and options.
Separation from Jupiter Wellness completed; 2M shares distributed to Jupiter shareholders on August 14, 2023.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Douglas McKinnon

Chief Financial Officer

TRON · Tron Inc.

Effective: 2023-08-14
Filed: August 16, 2023, 7:59 PM ET

On August 3, 2023, the Company and Jupiter Wellness entered into an Assignment and Assumption Agreement (the “McKinnon Assignment”), which became effective on August 14, 2023, to assume the employment agreement dated August 5, 2019, between Douglas McKinnon, Chief Financial Officer of the Company and former Chief Financial Officer of Jupiter Wellness, and Jupiter Wellness.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Douglas McKinnon was appointed as Chief Financial Officer at Tron Inc..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On August 3, 2023, the Company and Jupiter Wellness entered into an Assignment and Assumption Agreement (the “McKinnon Assignment”), which became effective on August 14, 2023, to assume the employment agreement dated August 5, 2019, between Douglas McKinnon, Chief Financial Officer of the Company and former Chief Financial Officer of Jupiter Wellness, and Jupiter Wellness.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Tron Inc. entered into Underwriting Agreement with EF Hutton, division of Benchmark Investments, LLC (effective 2023-08-14).

Action: entry
Agreement: underwriting
Counterparty: EF Hutton, division of Benchmark Investments, LLC
Effective: 2023-08-14

Exact text from the filing

On August 14, 2023, SRM Entertainment, Inc. (the “Company”) entered into an Underwriting Agreement (the “Underwriting Agreement”) with EF Hutton, division of Benchmark Investments, LLC (the “Representative”), as representative of the underwriters named therein, and Jupiter Wellness, Inc. (“Jupiter Wellness”), in connection with the Company’s initial public offering (the “IPO”) of 1,250,000 shares of common stock, par value $0.0001 (the “Common Stock”), at a price of $5.00 per share, less underwriting discounts and commissions.

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

Tron Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-029160

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