SkyAI has sold all of its SOL and launched a cash tender offer for up to 95% of its shares and warrants. According to Foresight News, the Nasdaq-listed company began the offer on October 16, offering $3 per share or warrant to purchase up to 95% of each class of outstanding common shares, cash pre-funded warrants, crypto pre-funded warrants, and strategic warrants.

Based on its cash holdings on October 16, the offer price represents about 0.95 times the company’s net asset value, or mNAV. The offer expires on October 30 at 12:00, and the total purchase amount would be about $201.3 million if fully subscribed.

SkyAI said it held about $223.8 million in cash as of October 16. With all SOL sold, the offer is no longer conditional on the SOL price, and the purchase will be funded entirely from existing cash. The company plans to remain listed on Nasdaq after the offer and is developing a financial platform combining Solana stablecoin channels and AI.