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.