Brera Holdings, a Dublin-based company that holds stakes in a number of lower-league football clubs, has had a woeful experience for most of the time since it floated in New York in early 2023. <\/p>\n
Set as a corporate entity over Brera FC, the so-called \u201cthird team of Milan\u201d (after Inter Milan and AC Milan), the company\u2019s stock soon drifted well below its $5 (\u20ac4.26) initial public offering (IPO) price as it invested in clubs in the likes of Mozambique, North Macedonia and Mongolia. <\/p>\n
Indeed, it was forced to consolidate shares in a one-for-10 conversion over the summer to get the stock above the minimum $1 level required by the Nasdaq to remain quoted on that exchange. <\/p>\n
That was before Brera announced on Thursday it has become the latest company to randomly get into crypto<\/a>, following a $300 million private investment led by star US stock-picker Cathie Wood\u2019s Ark Invest and Abu Dhabi-based Pulsar Group. <\/p>\n Shares in the company soared as much as almost 600 per cent on the news, though they have since settled more than 200 per cent above where they were changing hands before. It will see Brera change its name to Solmate and become a digital asset treasury and crypto infrastructure company by stockpiling solana-based crypto tokens called SOL. <\/p>\n