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- Tron files S-3 to register over 13M shares for resale by Justin Sun-linked entity
- Black Anthem holds 4.76% stake, which may fall to zero if full share sale occurs
- Filing allows gradual resale; no shares sold yet and Tron will not receive proceeds
Tron Inc. (NASDAQ: TRON) has filed a Form S-3 with the US Securities and Exchange Commission to register over 13 million shares for resale. This will allow a Justin Sun-linked entity to sell the stock after approval.
The registration statement was filed on March 18, 2026. It relates to 13,067,151 common shares of the company held by Black Anthem Limited. It is a company incorporated in the British Virgin Islands. The control person of the company is Justin Sun.
Tron has stated that it is not offering any shares with this filing. It has also stated that it will not be receiving any proceeds from the sale. This filing will allow the current shareholder to sell the shares if it is permitted.
Black Anthem Holds 4.76% Stake in Tron
The shares were issued under a stock purchase agreement on December 24, 2025. Black Anthem Limited acquired the shares for a consideration of $1.3775 per share. The total value of the shares was approximately $18 million. Payment was made through a transfer of 18 million USDT.
Currently, Black Anthem holds around 4.76% of Tron’s outstanding common stock. According to the prospectus, this figure may decrease. Under certain conditions, it may decrease to zero in case all shares are sold.
The filing does not confirm the immediate sale of shares. It does not reveal the name of the buyer either. It rather indicates the possible sale of shares in the future. The shares may be sold through exchange or private agreements.
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The prospectus lists several possible methods for selling the shares. These include broker-dealer transactions and block trades. Sales may also occur through privately negotiated deals. Any material arrangements will be disclosed later if required.
Tron Shifts to TRX Treasury Strategy
Tron’s stock closed at $1.84 on March 17, 2026, as stated in the filing. This amount is higher than the amount paid by Black Anthem. The document presents both figures for reference. It does not state any realized gains.
The company provided information about its overall strategy. Tron said it has adopted a treasury strategy. The strategy is focused on TRX.
The company also changed its corporate identity and ticker symbol on Nasdaq. These changes relate to the company’s alignment with the TRON ecosystem.
However, Tron explained the company operates independently from the TRON DAO. However, the company disclosed its advisory and ecosystem connections. The relationship involves Justin Sun and some directors of the company. The filing presents these relationships for transparency.
The S-3 filing is a regulatory step that allows future share sales. It does not indicate that transactions have already occurred. Investors may monitor future disclosures for updates on any resale activity.
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