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Solmate Infrastructure (NASDAQ: SLMT) sets 1-for-10 reverse share split for Nasdaq compliance

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6-K

Rhea-AI Filing Summary

Brera Holdings PLC (Solmate Infrastructure) is consolidating its stock through a 1-for-10 reverse share split of its Class B ordinary shares to help regain compliance with Nasdaq’s minimum $1 bid price requirement. The board approved the move on May 1, 2026, following shareholder approval on April 7, 2026.

The shares will begin trading on a split-adjusted basis on Nasdaq under the symbol SLMT on May 14, 2026. The reverse split will reduce the number of issued and outstanding Class B ordinary shares from approximately 83,874,383 to approximately 8,387,438, with no Class A ordinary shares outstanding. Equity awards, warrants, and convertible preferred shares will be proportionally adjusted, with higher exercise or conversion prices per share and no change to other share terms.

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Insights

Reverse split aims to preserve Nasdaq listing by boosting share price.

Solmate Infrastructure has approved a 1-for-10 reverse share split, cutting outstanding Class B ordinary shares from about 83.9 million to 8.4 million. The main stated goal is to address Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of $1 per share.

Reverse splits do not change a company’s underlying value but increase the per-share price while reducing share count. Here, all related equity awards, warrants, and convertible preferred shares are adjusted proportionally, maintaining relative ownership while altering per‑share economics.

The shares are scheduled to trade on a split-adjusted basis on May 14, 2026. Actual success in regaining compliance with the Minimum Bid Price Rule will depend on post-split trading levels and Nasdaq’s subsequent determination, as referenced in the company’s mention of the Nasdaq hearings panel process.

Reverse split ratio 1-for-10 Consolidation of ordinary shares
Shares outstanding before split Approximately 83,874,383 shares Class B ordinary shares pre-split
Shares outstanding after split Approximately 8,387,438 shares Class B ordinary shares post-split
Nasdaq minimum bid price $1 per share Nasdaq Listing Rule 5550(a)(2) requirement
Split-adjusted trading date May 14, 2026 Nasdaq Capital Market, symbol SLMT
Board approval date May 1, 2026 Reverse share split approval
Shareholder approval date April 7, 2026 Extraordinary general meeting
reverse share split financial
"today announced a 1-for-10 reverse share split (the “Reverse Share Split”) of the Company’s ordinary shares."
A reverse share split is when a company reduces the number of its shares outstanding by combining multiple shares into one, effectively increasing the price of each share. For investors, this can help improve the company's image or meet stock exchange listing requirements, but it does not change the total value of their investment. It’s similar to turning many small pieces of a puzzle into fewer larger pieces—nothing new is added or lost, just rearranged.
Nasdaq Listing Rule 5550(a)(2) regulatory
"intended to enable the Company to regain compliance with Nasdaq Listing Rule 5550(a)(2)"
Minimum Bid Price Rule regulatory
"for continued listing on Nasdaq (the “Minimum Bid Price Rule”)."
A minimum bid price rule is a stock market requirement that a listed company's share must trade above a set minimum price over a specified period to remain listed on an exchange. It matters to investors because falling below that threshold can trigger warnings, potential delisting, and reduced liquidity—similar to a student needing a passing grade to stay enrolled—making the shares harder to buy, sell, or value accurately.
extraordinary general meeting regulatory
"shareholder approval for the Reverse Share Split at an extraordinary general meeting on April 7, 2026."
convertible preferred shares financial
"equity awards, warrants, and convertible preferred shares outstanding as of the effective time"
Convertible preferred shares are a type of stock that pays priority dividends and has a higher claim on assets than common shares, but can be exchanged later for a set number of common shares. For investors, they offer a safety-and-upside mix: steady income and protection like a senior ticket, plus the option to convert into common stock if the company grows — a decision that affects potential returns and how much existing owners’ stakes may be diluted.
Solana-based crypto infrastructure company technical
"a Solana-based crypto infrastructure company with a strategic focus on Abu Dhabi."

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the month of May, 2026.

 

Commission File Number 001-41606

 

BRERA HOLDINGS PLC

(Translation of registrant’s name into English)

 

Connaught House, 5th Floor

One Burlington Road

Dublin 4

D04 C5Y6

Ireland

(Address of principal executive office) 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

Form 20-F ☒ Form 40-F ☐

 

 

 

 

 

 

INCORPORATION BY REFERENCE

 

This Report on Form 6-K shall be deemed to be incorporated by reference into the i) shelf registration statement on Form F-3 (Registration Number 333-276870) of Brera Holdings PLC, operating under the name Solmate Infrastructure (the “Company”) (NASDAQ: SLMT), a Solana-based crypto infrastructure company, filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on February 5, 2024 and declared effective by the SEC on February 13, 2024 (the “Shelf Registration Statement”), and into each prospectus or prospectus supplement outstanding under the Shelf Registration Statement, and the registration statement on Form F-3ASR (Registration Number 333-291657) of the Company, filed by the Company with the SEC on November 19, 2025 (the “Resale Registration Statement”), and into each prospectus or prospectus supplement outstanding under the Resale Registration Statement, and ii) registration statements on Form S-8 (File Nos. 333-269535 and 333-287999), in each case, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

On May 12, 2026, the Company issued a press release to provide an update on the previously approved reverse share split.

 

A copy of the press release is attached to this Report on Form 6-K as Exhibit 99.1 and is incorporated herein by reference.

 

Exhibit No.   Description
99.1   Press Release, dated as of May 12, 2026.

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Date: May 12, 2026 BRERA HOLDINGS PLC
     
  By: /s/ Ron Sade
  Ron Sade
  Chief Executive Officer

 

 

2

 

 

Exhibit 99.1

 

Brera Holdings PLC (d/b/a Solmate Infrastructure) Announces Reverse Share Split to Regain Compliance with Nasdaq’s Minimum Bid Price Rule

 

Dublin, Ireland, May 12, 2026 — Brera Holdings PLC, operating under the name Solmate Infrastructure (the “Company”) (NASDAQ: SLMT) today announced a 1-for-10 reverse share split (the “Reverse Share Split”) of the Company’s ordinary shares.

 

The Company’s board of directors approved the Reverse Share Split on May 1, 2026, and the Company obtained shareholder approval for the Reverse Share Split at an extraordinary general meeting on April 7, 2026.

 

The Company’s Class B ordinary shares will continue to trade on The Nasdaq Capital Market tier of The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “SLMT” and will begin trading on a split-adjusted basis when the market opens on May 14, 2026. The new CUSIP number for the Company’s Class B ordinary shares following the Reverse Share Split will be G13311132.

 

The Reverse Share Split is intended to enable the Company to regain compliance with Nasdaq Listing Rule 5550(a)(2), pursuant to which the Company is required to maintain a minimum bid price of at least $1 per share for continued listing on Nasdaq (the “Minimum Bid Price Rule”).

 

The Reverse Share Split will adjust the number of issued and outstanding Class B ordinary shares from approximately 83,874,383 shares to approximately 8,387,438 shares. There is no Class A ordinary share outstanding. Every 10 issued and outstanding ordinary shares of the Company as of the effective time will be consolidated into one ordinary share. In addition, the Reverse Share Split will effect a reduction in the number of shares issuable pursuant to the Company’s equity awards, warrants, and convertible preferred shares outstanding as of the effective time of the Reverse Share Split with a corresponding increase in the exercise or conversion price per share. The other terms of the ordinary shares of the Company are not affected by the Reverse Share Split.

 

No fractional shares will be issued in connection with the Reverse Share Split. All fractional entitlements to shares will be combined, aggregated and then sold in the market. Equiniti Trust Company, LLC is acting as transfer and exchange agent for the Reverse Share Split. Registered shareholders are not required to take any action to receive post-Reverse Share Split shares. Shareholders who are holding their shares in electronic form at brokerage firms need not take any action as the effect of the Reverse Share Split will automatically be reflected in their brokerage accounts.

 

Additional information about the Reverse Share Split can be found in the Company’s Reports on Form 6-K filed with the Securities and Exchange Commission (the “SEC”) on May 12, 2026, and April 28, 2026, which are available free of charge at the SEC’s website, www.sec.gov, and on the Company’s website at www.solmate.com.

 

 

 

 

About Brera Holdings PLC

 

Brera Holdings PLC (d/b/a Solmate Infrastructure) is a Solana-based crypto infrastructure company with a strategic focus on Abu Dhabi. The company creates value by working with its partners to build infrastructure and real hardware for the crypto revolution. Its cutting-edge Solana staking infrastructure will help drive the adoption of the network in the Middle East. Backed by Ark Invest, RockawayX, Pulsar Group and other UAE and international investors, Solmate Infrastructure expects to process Solana transactions faster, more efficiently and more profitably than other companies. For additional information, please visit www.solmate.com.

 

Cautionary Note Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “plan,” “anticipate,” “believe,” “will,” and similar expressions. These statements include, but are not limited to, statements regarding the effectuation of the Reverse Share Split; the Company’s ability to regain compliance with the Minimum Bid Price Rule; and the Company’s expectation that it will regain compliance with the Minimum Bid Price Rule once the Reverse Share Split is effectuated. These forward-looking statements are based on current expectations, estimates, assumptions, and projections and involve known and unknown risks, uncertainties, and other factors—many of which are beyond the Company’s control—that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements. Important factors that may affect actual results include, among others, the Company’s ability to execute its growth strategy; the outcome of the Nasdaq hearings panel process; market conditions, regulatory changes, operational challenges, and other risks and uncertainties described under “Risk Factors” in the Company’s Annual Report on Form 20-F filed with the SEC on May 15, 2025, as amended on May 28, 2025, and in subsequent filings with the SEC, available at www.sec.gov. The Company 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

 

Investors

John Ragozzino Jr., CFA

Solmate@icrinc.com

 

 

 

 

FAQ

What reverse share split did Solmate Infrastructure (SLMT) announce?

Solmate Infrastructure approved a 1-for-10 reverse share split of its Class B ordinary shares. Every 10 existing shares will be consolidated into one, reducing issued and outstanding shares from about 83,874,383 to about 8,387,438 while keeping overall company value unchanged.

Why is Solmate Infrastructure (SLMT) implementing a reverse share split?

The reverse share split is intended to help Solmate Infrastructure regain compliance with Nasdaq Listing Rule 5550(a)(2). That rule requires a minimum bid price of at least $1 per share for continued listing on Nasdaq’s Capital Market tier.

When will Solmate Infrastructure’s reverse split become effective on Nasdaq?

Solmate Infrastructure’s Class B ordinary shares are expected to begin trading on a split-adjusted basis on Nasdaq on May 14, 2026. The shares will continue to trade under the symbol SLMT, but with a new CUSIP number following the reverse share split.

How does the reverse share split affect Solmate Infrastructure shareholders?

Shareholders will see every 10 ordinary shares consolidated into one, with no fractional shares issued. Fractional entitlements will be aggregated and sold, while equity awards, warrants, and convertible preferred shares are proportionally reduced with higher exercise or conversion prices per share.

Do Solmate Infrastructure (SLMT) shareholders need to take action for the reverse split?

Registered shareholders are not required to take any action to receive post-split shares. Investors holding Solmate Infrastructure shares in brokerage accounts will see the reverse split automatically reflected electronically through Equiniti Trust Company, the transfer and exchange agent.

What corporate approvals did Solmate Infrastructure obtain for the reverse split?

Solmate Infrastructure’s board of directors approved the reverse share split on May 1, 2026. Shareholders had previously granted approval at an extraordinary general meeting held on April 7, 2026, authorizing the company to implement the consolidation of ordinary shares.

Filing Exhibits & Attachments

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