Recent Updates — SKK

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.

SKK Holdings Limited is acquiring substantially all of Rantizo, Inc.’s drone-based technology assets for approximately $258.8 million in newly issued Class A ordinary shares and $759,047 in cash. Shareholder approval was obtained on June 22, 2026, with the transaction expected to close in the third quarter of 2026. Upon closing, SKK will change its name to Rantizo, and current Rantizo shareholders will own approximately 91.7% of the combined entity. Marianne McInerney has been nominated as Executive Director and President, effective immediately after Closing. The company also attached unaudited pro forma financial information reflecting the acquisition.

SKK Holdings Limited announced the award of six new contracts for horizontal directional drilling and utility works in Singapore, with an aggregate value of up to US$26.6 million (S$34.1 million). Five fixed-price subcontracts totaling approximately US$19.6 million were granted by building contractors and a telecommunications operator for HDD supply and installation. A sixth subcontract valued at approximately US$7.0 million was awarded for utility works connected to a Singapore statutory board project. These awards represent the largest block of new work announced to date, reinforcing the company's core subsurface utility business in Singapore's public infrastructure market.

SKK Holdings Limited completed a registered direct offering of 770,000 Class A Ordinary Shares at $4.46 per share on August 17, 2026, raising gross proceeds of US$3,434,200. Investors paid in Tether (USDT), which the company intends to hold or convert for working capital. Post-transaction, outstanding shares total 2,875,332 Class A and 1,085,264 Class B ordinary shares. The company operates in the financial services industry.

At an extraordinary general meeting on June 22, 2026, SKK Holdings Limited shareholders approved the acquisition of substantially all drone-based technology assets from Rantizo, Inc. for $759,047 in cash and Class A ordinary shares valued at approximately $258.8 million. Shareholders also approved changing the company's name to "Rantizo," increasing authorized share capital from $500,000 to $5,000,000, and adopting amended Memorandum and Articles of Association. Additionally, the company received approval to issue over 19.99% of its outstanding Class A Ordinary Shares to facilitate the acquisition. The company operates in the technology sector, focusing on drone-based applications for agriculture, forestry, and emergency response.