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

The consideration shares, management shares and company securities held by directors and officers are subject to six-month lock-ups.

Rhea-AI Summary

SKK Holdings (SKK) completed its acquisition of substantially all of Rantizo’s drone assets in a transaction valued at approximately $258.8 million. The assets support spraying, seeding and monitoring across agriculture, forestry, emergency response and commercial applications. Rantizo received 51,966,591 newly issued Class A ordinary shares and owns approximately 87% of outstanding Class A shares following closing.

The company will change its name to Rantizo, with Nasdaq Capital Market trading under RNTZ expected on October 13, 2026. It also granted management Class A shares with an aggregate grant-date value of $12.0 million. Rantizo acquired 1,085,264 Class B shares from existing holders, with $8 million payable upon certain post-closing conditions. The company plans to use the acquired assets and public-market access to accelerate commercialization and pursue follow-on opportunities.

3 points · 1 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

2 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major pointCompleted drone-asset acquisition valued at approximately $258.8 million adds assets across multiple commercial applications. 12× market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Commercialization plan pairs acquired assets with public-market access to accelerate commercialization and pursue follow-on opportunities.
• Minor pointConsideration shares, management shares and directors’ and officers’ securities carry six-month lock-ups.

Negative

• Major point51,966,591 newly issued Class A shares dilute holders; Rantizo owns approximately 87% of outstanding Class A shares.
• Major pointManagement grants add Class A shares with an aggregate grant-date value of $12.0 million. 56% of market cap

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Details

Market Reaction – SKK

+23.7% Peak in 0 min

$4.85 – $8.10 Day Range

$20.44M Market Cap

On Oct 12, the day this news came out, the latest delayed price for SKK is 15.13% below the previous close. Argus tracked a peak move of +23.7% during the session. Our momentum scanner has recorded 27 alerts for this stock so far that day. The latest delayed price is $5.16. Relative volume is exceptionally heavy at 8.3x the average.

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Key Figures

Transaction valuation: Approximately $258.8 million Consideration shares: 51,966,591 Class A ordinary shares Rantizo ownership: Approximately 87% +5 more

Transaction valuation

Approximately $258.8 million

Asset acquisition, primarily in newly issued Class A ordinary shares

Consideration shares

51,966,591 Class A ordinary shares

Issued to Rantizo for the acquired assets

Rantizo ownership

Approximately 87%

Issued and outstanding Class A ordinary shares after closing

Class B shares acquired

1,085,264 shares

Purchase from existing holders, subject to post-closing conditions

Cash consideration

$8 million

For the Class B shares, payable upon certain post-closing conditions

Management share grant

$12.0 million

Aggregate grant-date value of Class A ordinary shares

Lock-up period

Six months

Applies to directors' and officers' securities and to the Consideration Shares and Management Shares

Expected trading start

October 13, 2026

Expected Nasdaq trading under ticker RNTZ

Previous Acquisition Reports

1 past event · Latest: May 04

Same Type 1 event

1. May 04

   Asset purchase agreement

   24h Move

   +596.5%

   Announced the same $258.8 million Rantizo asset purchase agreement, then subject to closing conditions.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

vwap, fully diluted, registration rights, lock-up

4 terms

vwap financial

"average volume weighted average price (VWAP) of the Class A ordinary shares"

VWAP, or Volume-Weighted Average Price, is a way to find the average price of a stock throughout the trading day, giving more importance to times when more shares are traded. It helps traders see the typical price and decide whether a stock is expensive or cheap compared to its average, similar to finding the average speed during a trip by giving more weight to times when you traveled faster or slower.

fully diluted financial

"the Company’s total fully diluted shares outstanding"

Fully diluted is the total number of a company's shares that would exist if every potential share from stock options, warrants, convertible debt and other claims were converted into common stock — like counting every reserved pizza slice as if everyone who could request one already had it. Investors use the fully diluted share count to see the realistic ownership picture and how those future claims could lower each shareholder’s percentage, earnings per share and implied valuation.

registration rights financial

"Registration Rights: The Company agreed to register the resale of the Consideration Shares"

Registration rights are contractual promises that let investors require a company to file paperwork with securities regulators so those investors can sell their shares to the public. They matter because they create a path to liquidity and an exit plan—without them, investors may be stuck holding shares for a long time. Think of them like a reserved ticket that guarantees access to a public marketplace when the holder is ready to sell.

lock-up financial

"Each director and officer of the Company entered into a six-month lock-up agreement"

A lock-up is an agreement that prevents company insiders, early investors or employees from selling their shares for a set period after a public share offering. It matters to investors because it temporarily limits the number of shares available to trade—like a scheduled hold on extra inventory—and when that hold ends a large number of shares can enter the market, potentially putting downward pressure on the stock price and revealing insiders’ confidence in the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Shares of the combined company are expected to begin trading on Nasdaq under the ticker symbol “RNTZ” on Tuesday, October 13, 2026 

The transaction is valued at approximately $258.8 million, consisting primarily of newly issued Class A ordinary shares

HOUSTON, Texas, Oct. 12, 2026 (GLOBE NEWSWIRE) -- SKK Holdings Limited (NASDAQ: SKK) (“SKK Holdings” or the “Company”) today announced the closing of its asset purchase agreement, dated May 1, 2026 (the “Asset Purchase Agreement”), with Rantizo, Inc. (“Rantizo”), a Delaware corporation headquartered in Houston, Texas, pursuant to which the Company acquired substantially all of Rantizo’s drone assets used for spraying, seeding, and monitoring across agriculture, forestry, emergency response, and commercial applications (the “Acquired Assets”). 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 “Rantizo,” and its Class A ordinary shares are expected to begin trading on the Nasdaq Capital Market under the new ticker symbol “RNTZ” on Tuesday, October 13, 2026.

Concurrently with the closing of the Asset Purchase Agreement, certain existing holders of the Company’s Class B ordinary shares entered into a Securities Purchase Agreement with Rantizo (the “Securities Purchase Agreement”) 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.

The Company also granted certain individuals of the Company Class A ordinary shares with an aggregate grant-date value of $12.0 million (the “Management Shares”), based on the average volume weighted average price (“VWAP”) 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.

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.

Marianne McInerney, newly appointed President of the Company, added: “Closing 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.”

Transaction Highlights

• Consideration: Rantizo received 51,966,591 newly issued Class A ordinary shares of the Company (the “Consideration Shares”), issued pursuant to a formula referencing the VWAP of the Company’s Class A ordinary shares over the three trading days prior to closing and the Company’s total fully diluted shares outstanding. Following the closing of the transactions, Rantizo owns approximately 87% of the issued and outstanding Class A ordinary shares of the Company.

• Concurrent Share Purchase: Rantizo acquired the 1,085,264 issued and outstanding Class B ordinary shares from the existing holders thereof for aggregate cash consideration of $8 million to be paid to the Class B shareholders upon the occurrence of certain post-closing conditions, giving Rantizo an increased equity position in the Company.

• Board Representation: Effective upon closing, Rantizo has the right to nominate two directors to the Company’s board of directors, consisting of one executive director and one independent director who meets applicable Nasdaq and SEC independence requirements.

• Registration Rights: The Company agreed to register the resale of the Consideration Shares under the Securities Act pursuant to a customary registration rights agreement entered into at closing.

• Lock-Up: Each director and officer of the Company entered into a six-month lock-up agreement with respect to their Company securities, and the Consideration Shares and Management Shares are subject to a six-month lock-up following the closing.

Advisors

A.G.P./Alliance Global Partners served as the exclusive financial advisor to the Company. TroyGould PC acted as legal counsel to the Company. Seward & Kissel LLP acted as legal counsel to Rantizo.

About Rantizo, Inc.

Rantizo, Inc. a Delaware corporation headquartered in Houston, Texas, is a drone technology company focused on delivering innovative aerial solutions across multiple industries. The Company develops and deploys advanced drone technologies for precision spraying, and other specialized applications serving the agriculture, forestry, emergency response, and commercial markets. Through its integrated technology and service offerings, Rantizo is committed to improving operational efficiency, expanding capabilities, and delivering cost-effective solutions to its customers

About SKK Holdings Limited

SKK Holdings Limited is a Cayman Islands-incorporated company. Through its operating subsidiaries, SKK Holdings has over ten years of experience providing civil engineering services specializing in subsurface utility works in Singapore, with expertise in power and telecommunication cable laying, water pipeline works, and sewer rehabilitation for Singapore’s public utility sector.

Additional Information and Where to Find It

This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. In connection with the transactions, the Company will file relevant materials with the SEC. These documents may be obtained free of charge at the SEC’s website at www.sec.gov.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected commencement of trading of the Company’s Class A ordinary shares under the ticker symbol “RNTZ,” the satisfaction of post-closing conditions, the board nomination rights, the expected effects of the transactions on SKK Holdings’ business and strategic positioning, the anticipated growth of the markets in which the Acquired Assets operate, and other statements that are not historical fact. These forward-looking statements are based on current expectations and assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to: the Company’s ability to realize the anticipated benefits of the transactions; risks associated with SKK Holdings’ ability to integrate and operate the Acquired Assets; the Company’s continued ability to comply with Nasdaq’s listing requirements; market conditions affecting the Company’s ability to raise additional capital; the competitive dynamics of the drone-based technology and commercial drone services markets; and the other risks described in SKK Holdings’ filings with the SEC. SKK Holdings undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Contacts

For Rantizo Inc.
marketing@rantizo.com
281-730-1380

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did SKK Holdings acquire from Rantizo, and how was the acquisition paid for?

SKK Holdings acquired substantially all of Rantizo’s drone assets in a transaction valued at approximately $258.8 million, exchanging newly issued Class A ordinary shares for the assets. Rantizo received 51,966,591 shares. The assets are used for spraying, seeding and monitoring across agriculture, forestry, emergency response and commercial applications.

When will SKK Holdings begin trading as Rantizo under RNTZ?

The company’s Class A ordinary shares are expected to begin trading on the Nasdaq Capital Market under RNTZ on October 13, 2026. In connection with the acquisition closing, SKK Holdings will change its name to Rantizo.

What board nomination rights did Rantizo receive in the SKK Holdings acquisition?

Effective upon closing, Rantizo has the right to nominate two directors to the company’s board. These comprise one executive director and one independent director who meets applicable Nasdaq and SEC independence requirements.

How were the shares issued in SKK Holdings’ Rantizo acquisition determined?

The consideration shares were issued using a formula referencing the Class A shares’ volume-weighted average price, a trading-volume-weighted price measure, over the three trading days prior to closing and the company’s total fully diluted shares outstanding. The management shares’ aggregate grant-date value also used that three-trading-day average price.