Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback

The former medical device maker has liquidated its Solana treasury and is offering to repurchase shares and warrants using its $223.8 million cash holdings. SkyAI, formerly Sharps Technology, has sold its entire Solana (SOL) treasury and launched a tender offer to repurchase up to $201.3 million in shares and warrants, reversing its cryptocurrency accumulation strategy. The company held approximately $223.8 million in cash as of Oct. 16 after liquidating its SOL holdings, according to a filing with the US Securities and Exchange Commission on Monday.