Solmate plans to establish a Solana center in the UAE and proposes a reverse stock split

2026-03-11 04:23:09

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Odaily Planet Daily reports that NASDAQ-listed company Solmate (formerly Brera Holdings PLC) announced that the board has approved officially changing its legal name to Solmate Infrastructure PLC, aiming to transform into an institutional-level Solana infrastructure provider based in Abu Dhabi. According to the plan, the company will shut down two underperforming football teams from its existing sports asset portfolio to reallocate funds to Solana infrastructure development in the UAE.

Additionally, Solmate proposed a 10-for-1 reverse stock split, increasing the par value of Class A and Class B common shares from $0.05 to $0.50. The proposal requires shareholder approval at the April 7 meeting. Solmate CEO Marco Santori stated that by consolidating capital and company identity around Solana, the company is committed to becoming a key player in the region’s digital economy. Previously, the project secured $300 million in funding in September 2025, with participation from Solana Foundation and Ark Invest. (The Block)

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