Nasdaq-listed Solmate proposes reverse stock split to build Solana hub in UAE
Solmate Infrastructure is sharpening its focus on building a Solana (SOL) hub in the United Arab Emirates, as the company moves to formally change its legal name and align its corporate structure with its digital asset strategy.
The company — currently operating under the legal entity Brera Holdings PLC and listed on Nasdaq under the ticker SLMT — announced Tuesday that its board approved a proposal to formally reposition the firm as an institutional-grade provider of Solana infrastructure with its primary operational base in Abu Dhabi.
The announcement represents the latest chapter in a transformation that began last September, when the company — then still known primarily as a football ownership group — unveiled a sweeping rebrand to pursue a Solana-focused strategy.
As part of the shift announced Tuesday, Solmate plans to officially change its legal name to Solmate Infrastructure PLC and update its constitutional documents to reflect its focus on blockchain infrastructure and digital asset treasury activities.
The company also intends to streamline non-core assets, including winding down two underperforming soccer teams from its existing sports portfolio, while retaining its flagship Italian club Juve Stabia. Capital freed from those operations will be redirected toward expanding Solana infrastructure in the UAE, according to the statement.
Reverse stock split
Meanwhile, the company proposed a 10-for-1 reverse stock split that would consolidate every 10 Class A and Class B shares into one share, increasing the nominal value from $0.05 to $0.5, with no fractional shares issued. The company's stock will continue trading on Nasdaq under the ticker SLMT, per the statement.
The proposed reverse stock split, subject to shareholder approval, is expected to take effect following a shareholder meeting scheduled for April 7, the company said.
"By focusing our capital and corporate identity on Solana, we are positioning ourselves to be a central player in the region's rapidly expanding digital economy," Solmate CEO Marco Santori said in the statement.
SLMT closed down 5.17% on Tuesday on the Nasdaq, bringing its decline over the past six months to 82.26%.
Solana push
Tuesday's announcement builds on Solmate's earlier push into Solana-based treasury and infrastructure strategy.
In September 2025, the company secured $300 million through an oversubscribed private investment in public equity to launch Solmate as a Solana-focused digital asset treasury and infrastructure firm. The placement was backed by the Solana Foundation, Cathie Wood's Ark Invest, RockawayX, and UAE-based Pulsar Group.
Under that strategy, Solmate aims to accumulate and stake SOL tokens while developing revenue streams tied to validator infrastructure and blockchain services. The company has also explored deploying specialized hardware and staking infrastructure in the UAE to provide regional investors with local access to Solana's yield-generating ecosystem.
In November 2025, Solmate launched what it said was the first bare-metal Solana validator in the UAE, allowing partners and the public to stake SOL to earn rewards directly from its validator at 0% commission.
The path has not been entirely smooth. Last month, Solmate said it would not pursue its previously announced merger with RockawayX, citing dramatically changed market conditions, though the two companies said they would maintain their strategic partnership.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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