Skyline Builders Group Holding Provides Update on Previously Announced Business Combination Agreement with Cove Kaz Capital
Globe Newswire•02/11/2026•09:05 ET
0
Key Highlights
- ➤Skyline and Cove Kaz mutually terminated their previously announced business combination agreement
- ➤Cove Kaz secured $32 million at $8 per share, implying $1.97 billion equity value
- ➤Skyline will receive 63,994,955 Cove Kaz shares before the planned 1H 2027 direct listing
- ➤Skyline’s 26% Cove Kaz stake will be valued at over $500 million
- ➤Skyline plans to distribute Cove Kaz investment value, then pursue critical-minerals acquisitions
Expert Statements
Paul Mann, Executive chairman of Skyline Builders Group Holding Limited
“We strongly support Cove Kaz’s proposed listing strategy”
Paul Mann, Executive chairman of Skyline Builders Group Holding Limited
“The assets owned by Cove Kaz are extremely valuable and are critical to many customers in the United States, who currently rely on foreign imports from countries that are not necessarily aligned with the United States.”
Paul Mann, Executive chairman of Skyline Builders Group Holding Limited
“We look forward to a successful listing by Cove Kaz and its shareholders, including Skyline.”
* Skyline and Cove Kaz have mutually terminated their previously announced business combination agreement, and Cove Kaz now expects to list on a major U.S. stock exchange via a direct listing during 1H 2027.
* Cove Kaz has secured a new capital commitment of $32 million at $8/ share implying an equity valuation of approximately $2 billion for Cove Kaz, with approximately 26% of Cove Kaz owned by Skyline.
Get started
Create a free account to read the full story.