Solana treasury Solmate stock rallies 11% after RockawayX merger announcement
Solana treasury firm Solmate announced plans to merge with RockawayX in an all-stock transaction, causing its stock to rally over 11%.Summary
Solana treasury firm Solmate (ticker SLMT) has announced a non-binding agreement to merge with crypto venture and infrastructure firm RockawayX via an all-stock transaction. Solmate intends to acquire RockawayX’s infrastructure operations to bolster its Solana staking and validation offerings, particularly targeting the Middle East, although Rockaway Capital will retain control of existing RockawayX venture funds. Following the news, SLMT stock surged over 11% to $2.62. The combined entity is expected to close in Q1 2026, continuing to trade as SLMT on the Nasdaq, with Marco Santori remaining CEO. RockawayX was an early investor in Solana and a significant PIPE investor in Solmate, and the firms had previously partnered on a Solana staking initiative in the UAE. This move aligns with Solmate's aggressive M&A strategy amid a period of uncertainty for many digital asset treasuries.
(Source：The Block)