SkyAI Launches a $3.00 Tender Offer That Would Wind Down Its Entire Solana Treasury

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• SkyAI commenced a cash tender offer on October 15, 2026 at $3.00 per share or warrant, a 65 percent premium to its October 9, 2026 closing price
• The offer covers up to 95 percent of each class of common stock, cash pre-funded warrants, cryptocurrency pre-funded warrants and strategic advisor warrants
• As of October 14, 2026, SkyAI held approximately $204.6 million in cash and roughly 210,000 “locked” SOL, and expects to hold zero SOL once the offer completes

SkyAI, Inc. commenced a cash tender offer on October 15, 2026 at a price of $3.00 per share or warrant, a price the company says represents a 65 percent premium over its October 9, 2026 closing price and more than double its 60-day volume-weighted average price. The offer covers up to 95 percent of each class of the company’s common stock, cash pre-funded warrants, cryptocurrency pre-funded warrants and strategic advisor warrants, and had been publicly announced the day before, on October 14, 2026.

What makes the offer notable is what it would mean for SkyAI’s crypto treasury. As of October 14, 2026, the company disclosed holding approximately $204.6 million in cash alongside roughly 210,000 “locked” Solana tokens, and the company explicitly stated it expects to hold zero SOL once the tender offer completes, effectively unwinding its entire Solana position as part of returning cash to shareholders and warrant holders through the buyback. Recent sales of SOL by the company averaged $107.51 per token net of fees, giving a sense of the price level at which the treasury has been winding down even before the tender offer’s announcement.

SkyAI pegged the $3.00 purchase price at approximately 0.95 times its market net asset value, based on roughly 70.6 million shares and warrants outstanding across all the classes covered by the offer. Pricing a buyback near net asset value, rather than at a steep discount or premium to it, suggests the company is aiming to return value to holders close to what the underlying assets, mostly cash and the remaining SOL position, are actually worth at the time of the offer, rather than using the tender as a way to capture value from holders at a depressed price.

The tender offer is scheduled to expire one minute after 11:59 p.m. Eastern time on October 29, 2026, though the company noted the deadline remains subject to possible extension, and completion of the offer depends on minimum-condition terms that vary by the specific class of security being tendered. MacKenzie Partners, Inc. is serving as both depositary and information agent for the transaction, handling the logistics of processing tenders from shareholders and warrant holders.

SkyAI describes its underlying business as building a financial platform meant to combine stablecoin infrastructure on the Solana network with artificial intelligence applications, meaning the tender offer effectively represents the company stepping back from an earlier Solana-treasury-centric strategy even as it continues to describe Solana-based stablecoin rails as part of its longer-term business plan. The announcement, filed with the SEC, did not explain why the company chose to wind down its SOL holdings through this specific mechanism rather than continuing to hold the treasury alongside its AI ambitions.