SkyAI Plans $201 Million Self-Tender, Rejecting Forward Industries’ Takeover Bid

SkyAI, Inc. (Nasdaq: SKYA), a Solana digital asset treasury, announced on October 12 that it will launch a cash tender offer to repurchase up to 95% of its common stock and warrants at $3.00 per share, a 65% premium to its October 9 closing price, while rejecting an unsolicited takeover bid from Forward Industries , according to the company announcement . The offer targets up to 46.37 million common shares and 20.72 million cash pre-funded warrants, cryptocurrency pre-funded warrants and strategic advisor warrants, for a maximum aggregate purchase price of about $201 million.

Source: Blockchain Reporter