SkyAI risks SEC offer failure if SOL falls under $100

Nasdaq-listed Solana treasury company SkyAI, formerly called Sharps Technology, says it has about 80% of the cash required for a planned repurchase at $3 per share. The offer's expected conditions include SOL closing above $100 throughout the offer period, subject to the company's waiver rights. In its Oct. 13 SEC filing , SkyAI reported approximately 600,000 SOL retained. Its Oct. 11 announcement had reported approximately 1 million retained after recent sales of about 1 million SOL, roughly half its treasury. The disclosures give reported balances without a dated breakdown of the transactions behind them.

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