TechFlow News, March 11: According to The Block, Solmate (Nasdaq: SLMT), a Nasdaq-listed company, has received board approval for a proposal to change its legal name from Brera Holdings PLC to Solmate Infrastructure PLC and to implement a 10:1 reverse stock split.
The company plans to pivot its operational focus toward building a Solana infrastructure hub in Abu Dhabi, United Arab Emirates. As part of this strategic shift, Solmate will divest two underperforming football clubs from its sports portfolio, retaining only the Italian club Juve Stabia, and redirect the freed-up capital toward expanding Solana infrastructure in the UAE.
The reverse stock split proposal requires shareholder approval; the shareholder meeting is scheduled for April 7.
