SkyAI, formerly Sharps Technology, said it had sold its entire Solana treasury and launched a cash-funded tender offer to buy back up to $201.3 million in shares and warrants. The offer covers up to 95% of each class of outstanding shares and warrants; it is an offer to repurchase, not a completed buyback. SkyAI said the offer is no longer tied to SOL’s price, reversing a condition it had initially planned when it announced the buyback on Oct. 11.
The company reported about $223.8 million in cash as of Oct. 16, after selling its SOL holdings. It said it still intends to develop a financial platform combining stablecoin infrastructure on Solana with artificial intelligence.
