Mergers & Acquisitions ·
Rantizo closes $258.8M acquisition of drone assets, changes name and ticker to RNTZ
SKKRantizo
SKK Holdings completed the acquisition of substantially all drone-based technology assets from Rantizo, Inc., for approximately $258.8 million in newly issued Class A ordinary shares. The transaction includes the issuance of over 51.9 million shares to the seller and grants management shares valued at $12 million. Concurrently, the company changed its name to Rantizo and its Nasdaq ticker symbol from SKK to RNTZ. Marianne McInerney was appointed President and Executive Director, while existing Class B shareholders agreed to sell their stakes for $8 million payable post-closing. The combined entity will operate a publicly traded platform focused on commercial drone applications in agriculture, forestry, and emergency response.