SkyAI expands cash tender to $214M after Bastion settlement, sells all SOL

SkyAI has expanded its proposed cash tender offer to approximately $214.3 million after reaching an agreement with major shareholder Bastion Trading, completing the sale of its entire Solana treasury to fund the transaction. SkyAI raised its maximum proposed tender payment to $214.3 million after settling with Bastion Trading. Bastion agreed to tender its securities and accept a three-year restriction on shareholder activism. SkyAI sold approximately 2 million SOL at an average net price of $107.20 per token. The amended offer covers all eligible pre-funded and stapled warrants, with differing prices and conditions.

Source: crypto.news