Nasdaq-listed Tron submitted a $200 million ATM stock issuance application to increase its holdings of TRX

Tron, a company listed on NASDAQ, has submitted documents to the U.S. Securities and Exchange Commission to establish a new market-priced stock issuance plan, allowing it to sell up to $200 million in common stock to fund a larger TRX treasury. According to the prospectus supplement filed on Wednesday, Tron may regularly sell common stock with a par value of $0.0001 through Clear Street as an agent, which charges a commission of up to 3% of the total funds raised.

The existing TRX buyback plan announced by the company in February of this year aims to purchase approximately $50,000 worth of TRX daily for 360 consecutive days. On Thursday, Tron purchased 149,369 TRX at an average price of $0.3347, bringing the total treasury holdings to 718.9 million TRX, valued at approximately $237 million. On the same day, the company's stock price opened down 4.7%, continuing its decline of about 67% over the past 12 months.