Largest Outside Holder RBCH Blasts Solmate's H1 Results, Exercises All Pre-Funded Warrants
SLMT is trading near its 52-week low of $2.795 (14% above the low) on light trading volume (0.1× avg).
Summary
RBCH, Solmate's largest outside shareholder at 18.33% including warrants, published a press release attacking the company's H1 2026 cost structure, SOL-per-share dilution and related-party dealings, and exercised all of its pre-funded warrants for about $230,555.
Key Events · Ownership and Investor Activity · SLMT
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Activist Press Release Attacks H1 Results
RBCH says Solmate's H1 2026 costs were $12.0M against $3.1M of revenue, nearly four times revenue, and that SOL per share fell 22% from about 0.148 to about 0.115.
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Pre-Funded Warrants Fully Exercised
RBCH acquired 1,878,988 and 2,732,123 Class B Ordinary Shares (pre-reverse-split basis) on exercise of its Pre-Funded Warrants for an aggregate exercise price of approximately $230,555 and now holds no Pre-Funded Warrants.
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18.33% Stake Including Warrants
RBCH reports 1,111,111 Class B Ordinary Shares plus warrants for 1,111,111 more at $67.50 per share, equal to 18.33% of the class, subject to a 19.99% beneficial ownership cap.
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Second EGM and Rescission Threatened
RBCH says it may requisition a second extraordinary general meeting to replace directors and demands rescission of the 2,298,000 shares issued to CEO Ron Sade and Keren Maimon at $4.97 in May 2026.
Analysis · SLMT · Crypto Assets
With 18.33% of the class including warrants, RBCH has taken its case public, attacking Solmate's H1 2026 numbers in detail: costs of $12.0M against $3.1M of revenue, SOL per share down 22% in six months, $4.3M paid to related parties, and roughly $7.2M of estimated liquidated damages from late filings. The firm also exercised all pre-funded warrants for about $230,555 and is openly floating a second extraordinary general meeting to replace directors and rescind the May 2026 insider share issuance. This is a governance fight with a large, engaged holder, not a passive stake change — board composition, the Strategic Advisor Agreement and the pending New York derivative litigation are all now in play.
How filings like this one have moved
In the 30 days to Oct 26, 2026, 36.2% of the 898 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SLMT was trading at $3.20 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $35.2M. The 52-week trading range was $2.80 to $145.80. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.