SkyAI Dumps Its Entire Solana Treasury to Fund a $201 Million Stock Buyback
Photo: CoinCentral
TLDR SkyAI, formerly Sharps Technology, has sold its entire Solana treasury. The company launched a tender offer to buy back up to $201.3 million in shares and warrants at $3 each. SkyAI held about $223.8 million in cash as of Oct. 16. Bastion Trading, which owns nearly 10% of SkyAI, wants an independent review and will not join the buyback. SkyAI shares closed Monday at $2.79, up 5.3%. SkyAI, formerly Sharps Technology, has sold all of its Solana holdings. The company also launched a tender offer to buy back up to $201.3 million in shares and warrants.
Also reported by The Defiant.
Source: CoinCentral
