Solmate Slams RockawayX "Fraudulent" Boardroom Blitz as $200M Deal Goes Up in Smoke 🚬

Solana-focused treasury and infrastructure company Solmate Infrastructure has accused RockawayX CEO Viktor Fischer of orchestrating a campaign that damaged shareholder value, following the collapse of a proposed acquisition between the two firms. In a June 24 statement, Solmate, formerly known as Brera Holdings, said it is defending shareholders from what it described as a fraudulent effort by Fischer and RockawayX to exploit the company for personal gain. Solmate claimed the dispute originated as an attempt to extract roughly $200 million through a proposed transaction before widening into a broader campaign that hurt market perception and contributed to a significant discount in the company's valuation.

The latest statement follows an SEC filing that expands on the dispute. In a June 12 letter, lawyers representing Solmate alleged that RockawayX, its affiliates, and other related parties may have acted together to influence or obtain control of the company, raising questions over whether investors had been properly informed of a potential Section 13(d) group under U.S. securities laws. Solmate also pointed to the timing of several events, noting that RockawayX-linked affiliates sought to replace the company's board before Forward Industries submitted an unsolicited proposal to acquire Solmate. The filing also cited existing investment ties between Forward Industries and RockawayX through OnRe, with Solmate arguing that shareholders deserve clarity on whether those actions were independent or part of a coordinated effort involving Fischer, RockawayX, and affiliated entities.

The SEC filing also included a Delaware complaint filed by Solmate against RockawayX, RockawayX Holding, and Fischer. According to the lawsuit, Solmate explored acquiring RockawayX in late 2025 and publicly announced a non-binding term sheet in December. The complaint alleges that RockawayX presented financial materials portraying the company as a rapidly growing and profitable digital asset business capable of supporting a substantial acquisition valuation. Solmate claims its due diligence later found that projected profitability relied heavily on speculative future revenue streams, unrealized investment valuations, contingent economics, and other assumptions that overstated recurring operating performance. The lawsuit alleges that those discrepancies caused the proposed transaction to collapse in February.

At the time of writing, RockawayX and Fischer had not publicly responded to Solmate's latest statement.