SkyAI Sells Its Entire Solana Treasury to Fund $201M Share and Warrant Buyback
Photo: Crypto Daily
SkyAI reported approximately $223.8 million in cash as of October 16 and said on October 19 that it had completed the sale of all its SOL holdings, according to its SEC filing . The tender offer would buy back up to 95% of each class of SkyAI’s outstanding shares and warrants at $3.00 per share or warrant. If fully subscribed, the offer could cost approximately $201.3 million. SkyAI said it is using cash on hand and that the offer has no borrowing or financing condition, making the reported cash balance the stated funding source.
Also reported by AMBCrypto.
Source: Crypto Daily
