SkyAI Ends Solana Treasury Strategy, Expands Cash Tender Offer to $214.3M

TL;DR SkyAI completed the sale of roughly 2 million SOL and now holds about $223 million in cash, ending its Solana digital-asset treasury strategy. An amended tender offer could cost approximately $214.3 million if fully subscribed, while Bastion agreed to tender all shares and warrants and accept a three-year standstill. SkyAI expanded purchases of pre-funded warrants to 100% and added stapled warrants, while the $3.00 common-share tender price remains unchanged today. SkyAI has completed the unwind of its Solana treasury strategy and expanded a cash tender offer after settling with activist shareholder Bastion Trading. In the latest company update , the amended offer could cost about $214.3 million if fully subscribed, against roughly $223 million in cash.

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