Tron submitted a $200 million ATM stock issuance application for listing on NASDAQ to increase its holdings of TRX

According to Cointelegraph, Nasdaq-listed TRX treasury company Tron has submitted documents to the U.S. Securities and Exchange Commission to establish a new stock issuance plan at market price, allowing it to sell up to $200 million in common stock to fund a larger TRX treasury.

According to the supplemental prospectus filed on Wednesday, Tron can regularly sell common stock with a par value of $0.0001 through Clear Street as an agent, with Clear Street charging a commission of up to 3% of the total amount raised.

The existing TRX buyback plan announced by the company in February this year aims to purchase approximately $50,000 of TRX daily for 360 consecutive days. On Thursday, Tron purchased 149,369 TRX at an average price of $0.3347, and the treasury currently holds a total of 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.