Solmate CEO, board buy $11.4M at premium in direct offering

Solmate Infrastructure CEO Ron Sade and board member Keren Maimon agreed to purchase 2,298,000 Class B ordinary shares at $4.97 per share in a registered direct offering, generating about $11.4 million in gross proceeds. The sale is expected to close around May 27, 2026, subject to customary closing conditions.

The shares are being sold under a shelf registration statement on Form F-3 that the company filed with the U.S. Securities and Exchange Commission in February 2024. The $4.97 per-share price is above recent trading, when the stock had been around $4.67 or lower.

According to company filings, the proceeds are intended to support Solmate’s Solana treasury operations, validator infrastructure development and general corporate needs. The filings do not include a detailed breakdown of allocations or a timetable for specific projects tied to the offering.

Solmate rebranded from Brera Holdings PLC after shifting away from sports club ownership. The company describes itself as a Solana-focused digital asset treasury and crypto infrastructure business that accumulates and stakes SOL and builds services for institutional clients.

As of early 2026 Solmate’s treasury held about 1.235 million SOL and total treasury assets, including cash and securities, were reported at roughly $129 million. In September 2025 the company closed an oversubscribed $300 million private investment in public equity with backers that included ARK Invest, the Solana Foundation, UAE-based Pulsar Group and RockawayX. Solmate also purchased a reported $50 million tranche of SOL from the Solana Foundation at a discount as part of its accumulation strategy.

The company operates bare-metal validators in Abu Dhabi and is developing RPC and colocation services for institutional clients. Management has discussed pursuing a dual listing on Nasdaq and the Abu Dhabi exchange.

The offering was led by insiders rather than outside investors. Following the announcement, Solmate’s shares rose nearly 20% on the day; the stock remained down about 69% year-to-date.

Company disclosures list risks that include the need to execute infrastructure builds, regulatory exposure tied to crypto markets and the potential for dilution from future equity raises.