TLDR
- Solmate shares climbed 11% to $2.62 following RockawayX merger announcement
- Deal merges validator infrastructure with Solana treasury operations
- Combined company will manage over $2 billion in assets
- RockawayX contributes $1.1 billion in staked blockchain assets
- Merger targets Q1 2026 closing after regulatory approval
Solmate stock rallied Thursday after announcing an all-stock merger with crypto infrastructure provider RockawayX.
The deal marks a strategic pivot for Solmate. The company moves from passive Solana token holdings to active validator and staking operations.
SLMT shares rose 11% to $2.62 on the announcement. The stock has ranged from $1.80 to $52.95 over the past year.
The merger creates a combined entity managing more than $2 billion in assets. RockawayX operates validator infrastructure across multiple blockchains with roughly $1.1 billion staked.
Solmate will acquire all RockawayX equity under the non-binding terms. The transaction needs regulatory clearance and shareholder votes before closing in early 2026.
Neither company disclosed financial details of the agreement.
Leadership and Structure
Marco Santori will remain CEO of the merged company. He previously served as chief legal officer at Kraken before joining Solmate.
Viktor Fischer, RockawayX’s CEO, becomes executive chairman of Solmate. He’ll continue leading RockawayX as a subsidiary of the combined firm.
Jakub Havrlant, who runs parent company Rockaway Capital, joins Solmate’s board. Rockaway Capital retains control of existing RockawayX venture funds separate from the merger.
The combined business trades under the SLMT ticker on Nasdaq. RockawayX operates as a subsidiary while maintaining its brand and operations.
RockawayX was an early Solana backer and the largest investor in Solmate’s $300 million PIPE financing. The firms partnered last month on UAE-based Solana validator infrastructure.
Revenue Diversification Strategy
The merger reflects changing approaches among digital asset treasury companies. Early models focused purely on accumulating crypto holdings.
Now these firms pursue multiple revenue streams. Solmate announced plans for active M&A after completing its PIPE deal.
The combined entity offers staking services, validator operations, market-making, and asset management. All functions operate under one platform targeting institutional clients.
RockawayX raised $125 million for a second venture fund in April. The firm plans to deploy 75% toward Solana ecosystem projects.
Its portfolio includes investments in DoubleZero, Kamino, and OnRe. RockawayX also runs a liquidity unit lending capital to onchain applications.
The firm incubates web3 projects through an internal labs group. It develops open-source tools supporting blockchain infrastructure.
Geographic Expansion Plans
Both companies focus on Middle East market opportunities. They launched Solana staking services in the UAE last month.
The merger expands those capabilities. Abu Dhabi serves as a potential center for transaction-ordering and latency-sensitive services.
These products target exchanges and high-frequency trading firms. RockawayX’s existing infrastructure supports rapid deployment in the region.
Solmate’s backers include Cathie Wood’s Ark Invest and UAE-based Pulsar Group. The company, previously called Brera Holdings, bought discounted Solana tokens from the Solana Foundation.
Other treasury companies pursue similar expansion strategies. ETHZilla bought a stake in automotive finance startup Karus this week. Strategy launched a dividend stock tied to its Bitcoin operations earlier this year.
The deal combines validator infrastructure, liquidity operations, and treasury management under Solmate’s umbrella. RockawayX brings technical expertise while Solmate provides capital and market access.
The companies expect definitive agreements in coming weeks. Closing remains subject to customary conditions and approval processes.
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