press release<\/a>, the company will reposition itself as an institutional-grade provider of Solana infrastructure in Abu Dhabi following a board-approved proposal to realign the company\u2019s legal structure and corporate identity with its blockchain-focused strategy.<\/p>\nCurrently operating under the legal entity Brera Holdings PLC, the company will change its legal entity name to Solmate Infrastructure PLC as part of this transition. However, its Nasdaq ticker SLMT will remain the same.<\/p>\n
\u201cThis transformation is the culmination of Brera\u2019s strategic shift toward infrastructure opportunities we see in Abu Dhabi. By focusing our capital and corporate identity on Solana, we are positioning ourselves to be a central player in the region\u2019s rapidly expanding digital economy,\u201d Solmate CEO Marco Santori said in a statement.<\/p>\n
<\/p>\n
As previously reported by crypto.news, the company first transitioned its strategy last September when it added a Solana-focused digital asset treasury and infrastructure business alongside its soccer ownership operations following a $300 million private investment backed by ARK Invest, RockawayX, and the Solana Foundation.<\/p>\n
At the time, the company\u2019s leadership said the move reflected a long-term conviction in the Solana ecosystem and outlined plans to accumulate SOL while building validator infrastructure and staking operations in Abu Dhabi.<\/p>\n
In the latest announcement, the company said it will streamline its non-core assets by winding down two underperforming soccer teams while only retaining its flagship Italian club Juve Stabia. It will use the \u201cliberated capital to accelerate its UAE based Solana infrastructure expansion.\u201d<\/p>\n
Proposed 10-for-1 Reverse Stock Split<\/h1>\n
The company has also proposed a 10-for-1 reverse stock split, which is \u201csubject to shareholder approval.\u201d The stock split would consolidate every 10 Class A and Class B shares into one share and increase the nominal value from $0.05 to $0.50 without issuing fractional shares.<\/p>\n
This will allow the company to position its shares within a more conventional trading range preferred by institutional investors, it said.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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