SkyAI Sells All Solana Holdings as $201M Buyback Faces Price Dispute
The company says cash on hand will fund the buyback after it exited Solana and removed the offer’s price dependence.
- On Monday, Nasdaq-listed SkyAI announced it sold its entire Solana treasury and launched a cash tender offer of up to $201.3 million for shares and warrants at $3 per share.
- SkyAI launched its Solana treasury strategy in August 2025 to generate staking revenue for operations and R&D, but faced significant unrealized losses as token prices declined, prompting the strategic reversal.
- The Offer to Purchase covers up to 95% of outstanding shares and warrants, funded by $223.8 million in cash held as of Oct. 16 when the company reported owning no remaining SOL.
- Bastion Trading, owning approximately 9.99% of SkyAI, challenged the offer on Oct. 14, requesting at least $3.50 per share and calling the sales a "fundamental departure" from the disclosed strategy.
- SkyAI now focuses on developing a financial platform combining stablecoin infrastructure and artificial intelligence on Solana, while its stock has gained approximately 65% over the past month despite remaining down about 41% annually.
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18 Articles
Cointelegraph
The New York LedgerSkyAI Exits Solana Treasury Strategy With $201M Tender Offer
The former medical device maker has liquidated its Solana treasury and is offering to repurchase shares and warrants using its $223.8 million cash holdings.
SkyAI sells all Solana holdings as $201M buyback faces price dispute
SkyAI has sold its entire Solana treasury and launched a cash tender offer worth up to $201.3 million, offering shareholders $3 per share despite a major investor’s demand for a higher price. SkyAI’s Oct. 19 announcement says the Nasdaq-listed company…
Nasdaq-listed SkyAI (formerly Sharps Technology) announced on October 19th that it would sell all of its Solana (SOL) holdings and launch a tender offer for its own shares and warrants... The post SkyAI Sells All of Its SOL Holdings -- Plans 30 Billion Yen Share Buyback first appeared on NADA NEWS.
SkyAI treasure zero in Solana and throw buys up to $201.3 million in shares and warrants, with cash of $223.8 million
SkyAI Exits SOL Holdings and Announces a $201M Solana Buyback
SkyAI, previously known as Sharps Technology, has exited its Solana holdings and is now seeking to return capital to shareholders through a cash-funded tender offer. The company said it sold its entire SOL treasury and, in a filing with the U.S. Securities and Exchange Commission, disclosed approximately $223.8 million in cash remaining after the liquidation. [...]
SkyAI, one of the companies that formed the Solana treasury, announced today that it no longer holds any SOL. As of October 16th, the company's cash holdings were approximately $223.8 million. In its buyback offer launched on October 16th, SkyAI aims to repurchase up to 95% of its shares and each of the three different warrant classes. The total size of the program, which offers $3 per unit, is […] Source: Bitcoinsistemi.com
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