SRM Entertainment’s stock price surged 633% from $1.48 to $10.84 after announcing a reverse merger agreement with Justin Sun’s blockchain company Tron. The $210 million deal marks a significant shift toward blockchain integration within traditional industries and includes SRM rebranding to ‘Tron’ alongside a new treasury strategy focused on accumulating Tron tokens.
Justin Sun, founder of Tron, has been appointed as an advisor to SRM Entertainment, reinforcing the company’s strategic pivot toward blockchain innovation. The transition is further supported by a separate $100 million equity investment secured from a private investor to fund growth initiatives.
The merger was facilitated by investment bank Dominari Securities. Eric Trump clarified he had no involvement in the transaction, dispelling initial media speculation about his participation.