SKK (SKK) said late Monday it closed its acquisition of nearly all Rantizo's drone assets for roughly 52 million of its new Class A ordinary shares, with Rantizo owning about 87% of SKK's shares.
The deal was valued at $258.8 million, the company said.
SKK will change its name to Rantizo, with its Class A shares expected to begin trading on Nasdaq under the ticker RNTZ on Tuesday.
Rantizo also agreed to buy 1.1 million Class B ordinary shares from existing holders for $8 million in cash, payable upon certain post-closing conditions, SKK said.
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