SkyAI sells all its SOL holdings and launches $201.3 million buyback
Image: CointelegraphSkyAI, formerly Sharps Technology, has sold its entire Solana treasury and launched a cash tender offer to repurchase up to $201.3 million in shares and warrants. The company reported $223.8 million in cash as of Oct. 16. The offer is priced at $3 per share or warrant and covers up to 95% of each class. It is no longer conditional on SOL's price.
Key points
- SkyAI sold its entire Solana treasury and confirmed the sales were complete by Oct. 16.
- The company launched a cash tender offer to repurchase up to $201.3 million in shares and warrants.
- The offer covers up to 95% of each class of shares and warrants and is funded from cash on hand.
- The tender offer is no longer tied to the price of SOL, a change from the earlier plan.
Why it matters
A listed firm that built a treasury around SOL has reversed course and is returning cash to shareholders, a reminder that capital structures around crypto holdings can change faster than the networks themselves.
What's unclear
Neither report states how much SkyAI received for its SOL or whether the sale produced a realized loss.
It is not known whether holders will tender enough shares and warrants to reach the full $201.3 million.
Price context · SOL
At publication
$103.86
Now
$104.15
Change since
+0.28%
7 days · dashed line = publication
Sources · 4 publishers
The Block
Tier 1
SkyAI sells off entire Solana treasury as it launches $201 million buyback
Cointelegraph
Tier 1
Solana treasury firm SkyAI sells all SOL holdings, launches $201M buyback
Bitcoinist
Tier 2
SkyAI Sells Its Solana Holdings And Launches $201 Million Buyback Offer
Coverage timeline
- First reported by The Defiant
- Also reported by The Block
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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