SkyAI sells Solana treasury, initiates $201M tender offer

SkyAI has sold its entire Solana treasury and initiated a $201 million tender offer, according to a report by The Defiant. The company, which previously held 2,077,799 SOL valued at approximately $218.5 million, reported it now holds $223.8 million in cash. This move by SkyAI, formerly known as Sharps Technology, removes a significant amount of Solana from the corporate treasury market. The tender offer retains a $3-per-share price, despite challenges from Bastion. Solana’s price at the time of the report hovered near $105. Watch for any further announcements from SkyAI or Bastion regarding the tender offer and share price challenges.

Source: Crypto Briefing