SRM Entertainment closes $5M PIPE of convertible preferred and warrants; corrects conversion price to $0.56

Tron Inc.

Gross proceeds of $5M from sale of 5,000 Series A Convertible Preferred shares convertible into 8,928,571 common shares at $0.56 per share.
Warrants to buy up to 8,928,571 common shares at $0.65 per share, exercisable immediately and expiring in two years.
Amended Certificate of Designation filed May 23 to correct the conversion price from $0.50 to $0.56.
Stock options issued to CEO Richard Miller (465,000) and CFO Douglas McKinnon (575,000) at $0.56 per share, vest immediately.

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