Funding
Tron Sells Shares to Buy More TRX
Nasdaq-listed Tron (TRON) has filed for an at-the-market share offering of up to $200 million to buy more TRX tokens. The company's shares are already under pressure, with a 67% drop over the past year. The shares are used to fund the TRX purchases, with the treasury holding 718.9 million TRX. The daily buying program was set at $50,000 of TRX per day for 360 consecutive days, with the ATM sales adding to the stock supply. The treasury is worth about $237 million, and the gap between the treasury value and the share price is what investors should be watching.