SKK Holdings Completes Rantizo Acquisition and Rebrands

HOUSTON, Texas, USA - SKK Holdings Limited (NASDAQ: SKK) has successfully closed its asset purchase agreement with Rantizo, Inc., acquiring substantially all of Rantizo's drone assets for approximately 258.8 million dollars. In connection with the transaction, the company has changed its name to Rantizo, and its Class A ordinary shares are scheduled to begin trading on the Nasdaq Capital Market under the new ticker symbol RNTZ.

The acquisition establishes a publicly traded drone platform focused on commercial applications such as precision spraying, seeding, and monitoring across agriculture, forestry, emergency response, and commercial sectors. Consideration for the transaction primarily consists of newly issued Class A ordinary shares, with Rantizo owning approximately 87 percent of the issued and outstanding Class A ordinary shares following the close.

Transaction Details

• Consideration: Rantizo received 51,966,591 newly issued Class A ordinary shares based on a valuation formula.
• Concurrent Share Purchase: Rantizo acquired 1,085,264 Class B ordinary shares for 8 million dollars in cash consideration, payable upon post-closing conditions.
• Board Representation: Rantizo has the right to nominate two directors to the board, including one executive and one independent director.
• Lock-Up and Registration: Consideration and management shares are subject to a six-month lock-up, alongside customary registration rights.