SkyAI Sells Its Entire Solana Treasury to Fund $201M Share and Warrant Buyback

SkyAI reported approximately $223.8 million in cash as of October 16 and said on October 19 that it had completed the sale of all its SOL holdings, according to its SEC filing . The tender offer would buy back up to 95% of each class of SkyAI’s outstanding shares and warrants at $3.00 per share or warrant. If fully subscribed, the offer could cost approximately $201.3 million. SkyAI said it is using cash on hand and that the offer has no borrowing or financing condition, making the reported cash balance the stated funding source.