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.

item 1.01 item 3.02 item 3.03 item 5.02 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Tron Inc.: Corrected conversion price of Series A Preferred Stock from $0.50 to $0.56 per share via Amended & Restated Certificate of Designation (effective 2025-05-23).

Change: charter amendment
Effective: 2025-05-23

Exact text from the filing

on May 23, 2025 the Company filed an Amended & Restated Certificate of Designation (the “ A&R Series A Certificate of Designation ”) to correct the conversion price of the Series A Preferred Stock from $0.50 per share to $0.56 per share.

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84 governance changes filed in the last 30 days. Browse all governance changes →

Tron Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-012625

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