BREA Stock Rips 500% After Raising $300 Million To Fund Solana Treasury, Company Rebrands As Solmate

The company also announced the appointment of Marco Santori as its new Chief Executive Officer.

Brera Holdings Plc. (BREA) shares surged by more than 500% on Thursday after the company announced that it had raised $300 million to fund its transformation into a Solana-based (SOL) digital asset treasury.

The fundraising was done through a private investment in public equity (PIPE) offering, sponsored by UAE-based technology and blockchain advisory firm Pulsar Group. The backing was secured by the Solana Foundation, RockawayX, and ARK Invest.

The company also announced its rebranding as Solmate and the appointment of a new CEO, Marco Santori, a former Kraken chief legal officer.

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