---
title: "SkyAI Liquidates Entire SOL Treasury and Starts $201.3M Share Buyback"
description: "The Nasdaq-listed firm completed the disposal of its Solana holdings and opened a cash tender offer to repurchase up to 95% of its equity."
url: https://basisdesk.news/news/skyai-sells-sol-treasury-launches-tender-offer
published: 2026-10-20T00:01:43.603Z
modified: 2026-10-20T00:01:43.603Z
section: Institutions & ETFs
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: bearish
tickers: [SOL, BTC]
tags: [solana, corporate-treasury, buyback, sec-filing, nasdaq]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# SkyAI Liquidates Entire SOL Treasury and Starts $201.3M Share Buyback

The Nasdaq-listed firm completed the disposal of its Solana holdings and opened a cash tender offer to repurchase up to 95% of its equity.

## At a glance

- **What happened:** SkyAI fully sold its SOL treasury and initiated a $201.3 million cash tender offer to buy back up to 95% of its securities.
- **Why it matters:** The company converted all cryptocurrency reserves into cash to fund an equity repurchase at approximately 0.95x net asset value.
- **Who is affected:** SkyAI shareholders and warrant holders, along with the Solana institutional ecosystem.
- **Takes effect:** 2026-10-29
- **What's next:** The tender offer expires at 11:59 p.m. New York City time on Oct. 29, 2026, unless extended.
- **Status:** announced
- **Primary source:** [Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback](https://www.sec.gov/Archives/edgar/data/1737995/000149315226047520/ex99-1.htm) — sec.gov

## Key points

- SkyAI fully liquidated its Solana holdings and reported about $223.8 million in cash as of Oct. 16.
- The company launched a cash tender offer of $3.00 per share and warrant, totaling up to $201.3 million.
- The buyback targets up to 95% of each security class and is scheduled to expire on Oct. 29.

## Editorial remark

- **Context:** SkyAI originally planned its share buyback on Oct. 11 with conditions linked to the price of SOL before fully divesting the token.
- **Impact:** Security holders can exit at roughly 0.95x net asset value using the firm's balance sheet cash, while SkyAI stays listed on Nasdaq.
- **Watch:** The tender offer closes at 11:59 p.m. NYC time on Oct. 29, pending any extension or early termination by the board.

Nasdaq-listed fintech firm SkyAI has completely sold off its Solana reserve and launched a cash tender offer worth up to $201.3 million to acquire its outstanding shares and warrants, according to a regulatory statement submitted to the SEC [1]. The tender offer began on Oct. 16 and is slated to end at 11:59 p.m. New York City time on Oct. 29, unless the company chooses to extend or terminate it earlier [1].

Under the arrangement, SkyAI plans to buy back as much as 95% of each class of its common equity and assorted warrants at a set rate of $3.00 apiece [1]. Based on cash balances recorded on Oct. 16, that consideration equates to roughly 0.95 times the firm's net asset value [1]. Security holders who choose to participate can submit their warrants directly without needing to exercise them into common equity ahead of time [1].

## Treasury Shift and Financing Details

SkyAI stated that it held approximately $223.8 million in net cash as of Oct. 16 following the complete disposal of its $SOL tokens [1]. Because the firm no longer retains any Solana assets, management removed a previous clause from the Oct. 11 proposal that had conditioned the transaction on the market value of SOL [1]. The repurchase will be funded entirely through available balance sheet liquidity, without debt financing or outside capital dependencies [1]. At the time of writing, SOL traded around $104.88, while broader crypto markets recorded a slight retreat, with $BTC changing hands near $81,846.

The tender offer includes targets of up to 48,311,489 common shares, alongside three separate categories of warrants totaling over 18.7 million units [1]. Each individual category requires a minimum 50% participation threshold to clear, though success in one class is not contingent on the others [1]. SkyAI noted that its common stock will maintain its listing on the Nasdaq Capital Market once the buyback process concludes [1].

## Sources

1. [Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback](https://www.sec.gov/Archives/edgar/data/1737995/000149315226047520/ex99-1.htm) — sec.gov, 2026-10-19

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai