Solana Treasury Firm SkyAI Plans $201M Share Buyback After SOL Sale

SkyAI plans to buy back as much as 95% of its outstanding shares and warrants for $3 each, using cash and proceeds from selling solana. The move comes after the company sold roughly half its SOL treasury and rejected an unsolicited stock-for-stock bid from Forward Industries. SkyAI is preparing one of the more aggressive capital-return moves yet by a crypto treasury company. The Nasdaq-listed firm said it expects to launch a $3-per-share cash tender offer around Oct. 15, covering up to 95% of its common stock and several classes of pre-funded and advisor warrants.

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