Nasdaq-listed Solmate Infrastructure has announced plans to build a Solana infrastructure hub in the United Arab Emirates, along with a corporate restructuring and capital overhaul.
Conclusion
- Nasdaq-listed Solmate Infrastructure plans to build a Solana infrastructure hub in Abu Dhabi as part of a wider refocusing on digital asset infrastructure.
- The company will change its legal name from Brera Holdings PLC to Solmate Infrastructure PLC and will retain the Nasdaq ticker SLMT.
According to a March 10 press release, the company is repositioning itself as an institutional-level provider of Solana infrastructure in Abu Dhabi following an approved proposal to restructure the company’s legal structure and corporate identity with a blockchain-focused strategy.
Currently 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, the Nasdaq SLMT ticker remains the same.
“This change is the culmination of Brera’s strategic shift to the infrastructure opportunities we see in Abu Dhabi. By focusing our capital and corporate identity on Solana, we position ourselves as a central player in the region’s rapidly expanding digital economy,” Solmate CEO Marco Santori said in a statement.
As previously reported by crypto.news, the company first changed its strategy last September when it added a Solana-focused digital asset fund and infrastructure business alongside its soccer property operations following a $300 million investment by ARK Invest, RockawayX and the Solana Foundation.
At the time, company management said the move reflected long-term faith in Solana’s ecosystem and outlined plans to bring together SOL while building validator infrastructure and staking operations in Abu Dhabi.
In the latest announcement, the company said it has streamlined its non-core assets by liquidating two low-performing football teams and keeping only its flagship Italian club Juve Stabia. It will use the “freed up capital to accelerate Solana’s infrastructure expansion in the UAE”.
The company has also proposed a 10-for-1 reverse stock split, “subject to shareholder approval.” The stock split combines 10 each of Class A and Class B shares into one share, increasing the par value from $0.05 to $0.50 without issuing fractional shares.
This allows the company to place its shares within the traditional trading range favored by institutional investors, he said.
