SkyAI raised its cash tender offer to about $214.3M after a deal with Bastion Trading; it no longer holds any SOL

OPENING
SkyAI (Nasdaq: SKYA) announced on October 27, 2026 a tender support and settlement agreement with Bastion Trading Limited, under which Bastion will tender all of its shares and warrants and agreed to a three-year standstill. SkyAI amended its cash tender offer to buy up to 100% of its pre-funded warrants and to add its stapled warrants, and extended the offer's expiration to November 12, 2026.
KEY DETAILS
- SkyAI (Nasdaq: SKYA) announced on October 27, 2026 a tender support and settlement agreement with Bastion Trading Limited, under which Bastion will tender all of its shares and warrants and agreed to a three-year standstill.
- SkyAI amended its cash tender offer to buy up to 100% of its pre-funded warrants and to add its stapled warrants, and extended the offer's expiration to November 12, 2026.
- If all securities sought are tendered, SkyAI will pay approximately $214.3 million from cash on hand; the offer has no financing condition.
- SkyAI said it sold approximately 2 million SOL at an average net price of $107.20, no longer holds any SOL, holds about $223 million in cash, and will not repurchase SOL after the offer closes.
WHY IT MATTERS
A listed Solana treasury firm is returning cash to holders. (Analysis, not a confirmed fact.)
IMPORTANT CONTEXT
- Common stock and strategic warrants are still sought at up to 95% of each class at $3.00 each, subject to a 50% minimum tender per class.
- The previous maximum payout under the offer was about $201.3 million, according to crypto.news.
- This article is informational and is not financial advice. Digital assets are volatile.
SOURCE
- Primary / main source: https://www.globenewswire.com/news-release/2026/10/27/3389579/0/en/skyai-enters-into-tender-support-and-settlement-agreement-with-bastion-trading-limited-extends-cash-tender-offer-to-all-pre-funded-warrants-and-includes-all-stapled-warrants.html
- Supporting: https://www.investing.com/news/company-news/skyai-amends-tender-offer-reaches-agreement-with-bastion-93CH-4976708
- Supporting: https://crypto.news/skyai-214-million-tender-offer-bastion-solana-sale/
#Solana #DigitalAssetTreasury