SkyAI Exits Solana Treasury and Offers $201.3M Buyback

SkyAI, a Nasdaq-listed fintech and digital asset treasury company based in Melville, New York, has sold its entire solana (SOL) position and now holds approximately $223.8 million in cash, News.bitcoin reported. Alongside the exit, the firm trading as SKYA opened a cash buyback worth up to $201.3 million, offering shareholders and warrant holders $3 apiece for their securities.

The offer began Oct. 16, 2026, and is scheduled to close Oct. 29 unless it is extended or canceled, according to News.bitcoin. SKYA shares rose more than 5% in Monday trading as investors weighed the terms.

Also read: Solana Cuts Target Block Time to 200ms at Epoch 1053

Key facts

• SkyAI liquidated its full solana treasury and holds about $223.8 million in cash.
• The buyback is priced at $3 per security and covers up to $201.3 million.
• The company is offering to purchase as much as 95% of its outstanding shares and three types of warrants.
• The offer opened Oct. 16, 2026, and expires Oct. 29.
• SKYA shares were up more than 5% on Monday and have risen more than 55% over the past month.

Terms of the offer

SkyAI is letting warrant holders tender those instruments directly rather than converting them into shares first. The $3 price works out to roughly 95% of the company’s net asset value, meaning investors are being offered slightly below the estimated per-security value of its assets after liabilities are subtracted.

The buyback carries conditions. Each required category of securities must receive submissions covering at least half of what is offered, or that portion will not proceed. If participation runs above the cap, SkyAI will accept securities proportionally rather than in full. Investors may withdraw before the deadline, and those whose securities are accepted receive cash once the offer closes.

Also read: BitMine Buys 15,112 ETH, Treasury Reaches 6,016,414 Tokens

SkyAI originally planned to make the offer contingent on solana’s market price. Because the SOL position is gone, that condition no longer applies. The board approved the offer but has not told investors whether to participate. The company said it intends to stay listed on Nasdaq after the transaction.

Why it matters

SkyAI joins a growing list of firms that have wound down a digital asset treasury model — a strategy of holding crypto on the balance sheet as a core corporate asset. Satsuma Technology, Prenetics Global, Genius Group, Sequans Communications and Vaultz Capital have made similar exits, some while underwater on their holdings and others at a loss. The pattern matters for retail holders of these stocks because a buyback at a fixed price gives them a defined exit, but one set below net asset value rather than at a market-determined premium.

For SkyAI itself, the move swaps crypto price exposure for a cash buffer and a capital-return program, a shift that has coincided with a sharp run in the shares.

What to watch

The Oct. 29 expiration is the next hard deadline. Whether holders tender enough securities to satisfy the minimum conditions in each category, and whether SkyAI extends the offer, will determine how much of the $201.3 million is actually paid out.

This article is not financial advice. Markets are volatile and uncertain, and share prices can move sharply in either direction.

Reported by news.bitcoin.com.

Source: Bitcoin.com News