Image Credit: Skyai.inc
- SkyAI plans to sell its remaining locked Solana tokens and hold none after completing a proposed share and warrant repurchase.
- The company recently sold liquid and locked SOL at an average price of $107.51 per token through BitGo, Anchorage and Coinbase.
- Shareholder Bastion Trading demanded fuller disclosure, board changes and an increased tender price of at least $3.50.
SkyAI said it held approximately 210,000 locked Solana tokens and $204.6 million in cash as of Oct. 14, 2026. The Nasdaq-listed company plans to sell its remaining SOL and expects to hold none after completing its proposed share and warrant repurchase.
SkyAI Confirms Sales Ahead of Treasury Exit
SkyAI said it recently sold liquid and locked SOL at an average price of $107.51 per token, net of fees. The sales were spread across BitGo, Anchorage and Coinbase.
SkyAI reported an average sale price but did not disclose how much SOL it sold during the period. It also did not provide transaction-by-transaction proceeds.
The remaining balance is substantially below the approximately 1 million SOL disclosed in SkyAI’s Oct. 11 announcement. That release said the company had already sold approximately half its treasury and could make further sales depending on market conditions.
Bastion Challenges Sales and Repurchase Terms
Earlier on Oct. 14, shareholder Bastion Trading demanded fuller disclosure of SkyAI’s disposals. Bastion said it and its affiliates owned approximately 9.99% of the company’s outstanding common stock.
The investor requested sale dates, quantities, realized prices and an independent review. It also sought board changes and an increase in the tender price from $3 to at least $3.50, saying it would not participate unless its concerns were addressed. These are shareholder demands, rather than findings of wrongdoing.
SkyAI Plans Tender Launch After Market Close
SkyAI plans to launch the cash offer after U.S. markets close on Oct. 15, alongside filing materials with the Securities and Exchange Commission (SEC). It intends to purchase up to 95% of each eligible class of shares and warrants at $3 apiece.
SkyAI’s announced terms require at least 50% of each eligible class to be validly tendered and not withdrawn, although the company may waive conditions. The offer had not commenced when the update was issued. SkyAI expects to fund purchases using cash and SOL-sale proceeds.
