News · Institutions & ETFs
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.
Key point 1 of 3
01
SkyAI fully liquidated its Solana holdings and reported about $223.8 million in cash as of Oct. 16.
Key point 2 of 3
02
The company launched a cash tender offer of $3.00 per share and warrant, totaling up to $201.3 million.
Key point 3 of 3
03
The buyback targets up to 95% of each security class and is scheduled to expire on Oct. 29.
Context
SkyAI originally planned its share buyback on Oct. 11 with conditions linked to the price of SOL before fully divesting the token.
Why it matters
Security holders can exit at roughly 0.95x net asset value using the firm's balance sheet cash, while SkyAI stays listed on Nasdaq.
What to watch
The tender offer closes at 11:59 p.m. NYC time on Oct. 29, pending any extension or early termination by the board.
Sources
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