SkyAI Plans $201M Buyback After Selling Half Its SOL Holdings
SkyAI plans to repurchase up to 95% of its outstanding shares and warrants at $3 each, funded by cash and proceeds from solana sales.
Solana treasury company SkyAI is planning a $201 million buyback, offering $3 apiece for up to 95% of its outstanding shares and warrants.
The company intends to fund the repurchases with cash and proceeds from selling solana. It has already sold approximately half of its SOL treasury.
The proposal follows SkyAI’s rejection of an unsolicited all-stock takeover offer from Forward Industries. The planned buyback would instead give participating holders a cash exit.
Source: Bitcoin.com News
