SkyAI expands cash tender offer to $214.3 million following settlement with Bastion Trading
Nasdaq-listed Solana treasury company SkyAI has reached a settlement with major shareholder Bastion Trading, expanding its cash tender offer to roughly $214.3 million after liquidating its entire SOL holdings.
Nasdaq-listed Solana treasury firm SkyAI has expanded its cash tender offer to approximately $214.3 million after entering into a settlement agreement with major shareholder Bastion Trading, according to reports from The Block and crypto.news. Bastion Trading now backs the $3-per-share buyback after previously opposing the plan.[1][2][3]
Under the expanded structure, SkyAI will broaden its tender offer to cover additional warrants following the resolution with Bastion. The company previously liquidated its entire treasury of roughly 2 million SOL at an average price of around $107 per token—reported by crypto.news at an average net price of $107.20—and confirmed that it will not repurchase the cryptocurrency after the share buyback is complete.[1][2][3]
Key facts
- SkyAI reached a settlement with major shareholder Bastion Trading, which previously opposed the company's buyback.
- Bastion Trading now supports SkyAI's $3-per-share buyback.
- SkyAI expanded its cash tender offer to approximately $214.3 million to cover additional warrants.
- SkyAI sold its entire treasury of about 2 million SOL at an average price of $107 to $107.20 per token.
- SkyAI stated it will not repurchase SOL following the share buyback.
Sources · 3 sources
- SO
SolanaFloor@SolanaFloorPost on X ·
🚨JUST IN: Solana treasury company @skyaico says it has entered into a settlement with Bastion Trading, which now backs its $ 3-per-share buyback after previously opposing it. SkyAI also confirms it sold all 2M $SOL at an average of $107 and will not repurchase $SOL after its share buyback.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: Nasdaq-listed SkyAI expands cash tender offer to $214.3M after settling with Bastion Trading The company will broaden its offer to cover additional warrants after selling its entire treasury of roughly 2 million $SOL at an average net price of $107.20 per token, and says it will not repurchase Solana.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Nasdaq-listed SkyAI has expanded its cash tender offer to approximately $214.3 million after reaching a settlement with major shareholder Bastion Trading. The company previously sold its entire treasury of roughly 2 million solana:So11111111111111111111111111111111111111112 and said it would not repurchase the cryptocurrency.
Open source