Bastion Trading challenges SkyAI’s $201M tender offer and demands transparency

SkyAI's 9.99% shareholder wants a higher price, more disclosure on Solana sales, and changes to the board SkyAI, Inc. wants to buy back nearly all of its own stock with cash raised from selling Solana . One of its biggest shareholders has questions. Quite a few of them. Bastion Trading Limited, which owns approximately 9.99% of SkyAI, publicly challenged the company’s proposed tender offer on October 14. It cited a lack of transparency about the company’s SOL sales and raised issues with board legitimacy. It is also calling for a higher offer price and changes to the board.

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