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[BUSINESS] · United States · 5 sources

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Part of situation: SkyAI liquidates Solana treasury for $201M share buyback (4 clusters)

SkyAI announces $201M share buyback funded by Solana sales

SkyAI Solana share buyback tender offer crypto treasury

SkyAI (Nasdaq: SKYA) has announced a $201 million cash tender offer to repurchase up to 95% of its outstanding common shares and three classes of warrants at $3.00 per security. The company intends to fund this buyback using existing cash reserves and proceeds from the sale of its Solana (SOL) holdings.

To finance the initiative, SkyAI has sold approximately 1 million SOL, which represents roughly half of its previous cryptocurrency reserves. The company reported that it still holds approximately 1 million SOL tokens and may sell more depending on market conditions. The tender offer is expected to commence around October 15, 2026, and is contingent upon SOL maintaining a closing price above $100 during the offer period.

The announcement follows SkyAI’s decision to reject an unsolicited acquisition proposal from Forward Industries, which the board determined significantly undervalued the company. This move coincides with a strategic pivot for SkyAI as it transitions from a crypto-focused treasury firm toward becoming an AI-driven financial services provider.

Entities

Coinbase Prime · Forward Industries · Nasdaq · SkyAI · Solana

Claims

What the coverage asserts, and how many sources carry each claim.

Sources

Solana treasury firm SkyAI sells 1 million SOL, plans $201 million share buyback [crypto.news]
SkyAI risks SEC offer failure if SOL falls under $100 [cryptoslate.com]
Solana Treasury Firm SkyAI Plans $201M Share Buyback After SOL Sale [news.bitcoin.com]
SkyAI sells half of its SOL treasury, plans $201M buyback [cryptobriefing.com]
SkyAI sells half its Solana to fund a $201M buyback and keep Forward Industries out [www.cryptopolitan.com]