SkyAI Exits Solana Treasury With $223.8 Million in Cash

SkyAI, a Nasdaq-listed treasury-management firm tied to the Solana ecosystem, has sold all Solana (SOL) held in its treasury and now holds $223.8 million in cash. The company plans a tender offer worth up to $201.3 million to buy back shares and warrants. The offer price is $3 per share or warrant, and it is intended to cover as much as 95% of those securities. The maximum offer value is $22.5 million below SkyAI's disclosed cash balance and amounts to about 90% of that total. The company plans to use its cash to fund the tender offer. A tender offer is a direct proposal to buy securities from their holders at stated terms.

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