Solmate Infrastructure Shares Higher on Acquisition Plans
By Rob Curran
Shares of Solmate Infrastructure rallied after the developer of infrastructure for cryptocurrency network Solana said it was hunting for a major acquisition.
The company's shares rose 48% to $12.37 in premarket trading.
The Abu Dhabi-based cryptocurrency firm, formerly known as Brera Holdings, said it would take an "aggressive" approach to acquisition plans, targeting a company with significant holdings of the Solana cryptocurrency, known as SOL.
"We aren't interested in simply bolting on smaller companies to generate revenue," said Marco Santori, CEO of Solmate Infrastructure. "We are targeting businesses for which our SOL treasury will be fuel for their engine of growth--just like it is for ours--and will use that growth to accrete more SOL-per-share for Solmate investors."
Solmate has selected a United Arab Emirates data center for its recently assembled "validators," high-powered computers that form the backbone of the Solana network.
The company said a $300 million private investment in a public equity offering was oversubscribed. Solmate expects to file an amended rights registration statement for the offering with the Securities and Exchange Commission by Nov. 22.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
October 23, 2025 08:37 ET (12:37 GMT)
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