Another Crypto Treasury Waves the White Flag as SkyAI Liquidates Its SOL

SkyAI Cashes Out of Solana, Puts $201.3 Million connected the Table

Rather than continuing to clasp cryptocurrency, the institution has converted its SOL holdings into cash and is giving shareholders and warrant holders an accidental to exit astatine a fixed price. SkyAI, the Nasdaq-listed firm trading nether the ticker SKYA, disclosed that it launched a large currency buyback connection worthy up to $201.3 million, giving shareholders and warrant holders an accidental to merchantability their holdings straight to the institution for $3 apiece.

The connection began Oct. 16, 2026, and is scheduled to expire Oct. 29, unless extended oregon canceled. The institution said it is offering to acquisition arsenic overmuch arsenic 95% of its outstanding shares and 3 types of warrants. Warrants are fundamentally fiscal instruments that springiness their owners the close to acquisition institution shares nether definite conditions.

SkyAI is allowing warrant holders to merchantability those instruments straight without archetypal converting them into shares. The institution fundamentally sold its full solana (SOL) presumption and present holds astir $223.8 cardinal successful cash. Originally, SkyAI expected to marque the connection babelike connected solana’s marketplace price. However, due to the fact that it has liquidated its full SOL position, that information has been eliminated.

SKYA Shares Continue to Rally arsenic Buyback Terms Take Shape

SKYA is doing good pursuing the news, up much than 5% during Monday’s trading session. Over the past month, shares person climbed much than 55%. The $3 acquisition terms represents astir 95% of the company’s nett plus value, oregon NAV, which is the worth of its assets aft subtracting its liabilities. In different words, SkyAI is offering investors somewhat little than the estimated nett worth backing each security.

There are respective important conditions. At slightest fractional of the securities offered for acquisition indispensable beryllium submitted successful each required class for that information of the buyback to proceed. If excessively galore investors participate, past SkyAI volition acquisition securities proportionally alternatively than accepting each submission successful full.

Investors tin retreat their shares oregon warrants earlier the deadline. Those whose securities are accepted volition person currency aft the connection closes. SkyAI intends to stay publically traded connected the Nasdaq exchange aft completing the transaction. Its committee has approved the connection but has not recommended whether investors should participate.

SkyAI is 1 of galore firms that person abandoned their integer plus treasury (DAT) model. Other companies similar Satsuma Technology, Prenetics Global, Genius Group, Sequans Communications, and Vaultz Capital person done the same. Some of them were underwater connected their DAT investments, and others sold their crypto astatine a loss.