SKK Holdings Limited (NASDAQ: SKK) has completed its acquisition of Rantizo, Inc.'s drone assets, which are utilized in various sectors including agriculture, forestry, emergency response, and commercial applications.
In exchange for these assets, SKK issued new Class A ordinary shares and will rebrand as Rantizo, with shares set to trade under the ticker symbol 'RNTZ' on the Nasdaq Capital Market starting October 13, 2026.
As part of the transaction, existing holders of SKK's Class B shares have agreed to sell 1,085,264 shares to Rantizo for $8 million, contingent on certain post-closing conditions.
Additionally, SKK has awarded Class A shares valued at $12 million to select individuals, calculated using the average price over the three days leading up to the deal's closure.
Post-acquisition, the company plans to integrate drone technology with commercial infrastructure to serve precision agriculture, forestry, emergency response, and other commercial markets.
Marianne McInerney, newly appointed President of the Company, commented: “Closing this transaction marks a defining moment for Rantizo. By combining our drone technology with a Nasdaq-listed platform, we now have the access to the public capital markets and the opportunity to scale our operations across agriculture, forestry and emergency response. We are excited to begin our next chapter as a public company and look forward to building long-term value for our shareholders.”