{"id":1009412,"date":"2026-10-12T16:49:21","date_gmt":"2026-10-12T20:49:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/skk-holdings-completes-258-8-million-acquisition-of-drone-assets-from-rantizo-inc-establishing-a-publicly-traded-drone-platform-for-commercial-applications-and-changes-name-to-rantizo\/"},"modified":"2026-10-12T16:49:21","modified_gmt":"2026-10-12T20:49:21","slug":"skk-holdings-completes-258-8-million-acquisition-of-drone-assets-from-rantizo-inc-establishing-a-publicly-traded-drone-platform-for-commercial-applications-and-changes-name-to-rantizo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/skk-holdings-completes-258-8-million-acquisition-of-drone-assets-from-rantizo-inc-establishing-a-publicly-traded-drone-platform-for-commercial-applications-and-changes-name-to-rantizo\/","title":{"rendered":"SKK Holdings Completes $258.8 Million Acquisition of Drone Assets from Rantizo, Inc., Establishing a Publicly Traded Drone Platform for Commercial Applications, and Changes Name to Rantizo"},"content":{"rendered":"
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\n Shares of the combined company are expected to begin trading on Nasdaq under the ticker symbol \u201cRNTZ\u201d on Tuesday, October 13, 2026\u00a0<\/i>\n <\/p>\n

\n The transaction is valued at approximately $258.8 million, consisting primarily of newly issued Class A ordinary shares<\/i>\n <\/p>\n

\n HOUSTON, Texas, Oct. 12, 2026 (GLOBE NEWSWIRE) — <\/strong>SKK Holdings Limited (NASDAQ: SKK) (\u201cSKK Holdings\u201d or the \u201cCompany\u201d) today announced the closing of its asset purchase agreement, dated May 1, 2026 (the \u201cAsset Purchase Agreement\u201d), with Rantizo, Inc. (\u201cRantizo\u201d), a Delaware corporation headquartered in Houston, Texas, pursuant to which the Company acquired substantially all of Rantizo\u2019s drone assets used for spraying, seeding, and monitoring across agriculture, forestry, emergency response, and commercial applications (the \u201cAcquired Assets\u201d). The Company acquired the Acquired Assets in exchange for newly issued Class A ordinary shares of the Company. In connection with the closing, the Company will change its name to \u201cRantizo,\u201d and its Class A ordinary shares are expected to begin trading on the Nasdaq Capital Market under the new ticker symbol \u201cRNTZ\u201d on Tuesday, October 13, 2026.<\/p>\n

Concurrently with the closing of the Asset Purchase Agreement, certain existing holders of the Company\u2019s Class B ordinary shares entered into a Securities Purchase Agreement with Rantizo (the \u201cSecurities Purchase Agreement\u201d) pursuant to which Rantizo will acquire 1,085,264 Class B ordinary shares held by those holders for aggregate cash consideration of $8 million to be paid upon the occurrence of certain post-closing conditions.<\/p>\n

The Company also granted certain individuals of the Company Class A ordinary shares with an aggregate grant-date value of $12.0 million (the \u201cManagement Shares\u201d), based on the average volume weighted average price (\u201cVWAP\u201d) of the Class A ordinary shares over the three trading days prior to closing. The boards of directors of Rantizo and the Company each unanimously approved the Asset Purchase Agreement, the Securities Purchase Agreement and related transactions.<\/p>\n

Following the closing, the Company intends to operate a platform combining drone technology and commercial infrastructure across precision agriculture, forestry, emergency response and broader commercial end markets. The Company plans to pair the Acquired Assets with access to the U.S. public capital markets to accelerate commercialization, deepen customer relationships, and pursue follow-on opportunities as the unmanned aerial systems sector continues to consolidate around scaled operators.<\/p>\n

Marianne McInerney, newly appointed President of the Company, added: \u201cClosing 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.\u201d<\/p>\n

\n Transaction Highlights<\/b>\n <\/p>\n