SkyAI Sells All Solana to Fund $201 Million Buyback Offer
Photo: TokenPost
SkyAI, Inc. has sold its entire Solana (SOL) reserve and opened a buyback offer worth up to $201.3 million, turning its crypto holdings into cash as a major shareholder challenges the offer price. SkyAI held about $223.8 million in cash and no SOL as of Oct. 16. Its tender offer covers up to 95% of each eligible class of common shares and warrants at $3 apiece. If fully subscribed, the purchase price would total approximately $201.3 million. Bastion Trading, which owns nearly 10% of SkyAI, said it would not participate under the proposed terms.
Source: TokenPost
