Bastion Challenges SkyAI’s $3 Tender Offer and Seeks SOL Sale Records

Bastion Trading Limited, which owns about 9.99% of SkyAI, is challenging the company’s $3-a-share cash tender offer and seeking records about a steep decline in its Solana holdings. SkyAI’s position fell from more than 2 million SOL on Sept. 14 to about 600,000 on Oct. 13, a reduction of roughly 70%, Bastion says. The decline was detailed in an earlier report on SkyAI’s SOL holdings . Bastion wants SkyAI to disclose the sale dates and amounts, average prices, net proceeds and approval process. It also seeks shareholder-nominated independent directors and a special committee to oversee the tender offer.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.