SkyAI Launches $201 Million Share Buyback
SkyAI, a firm holding assets within the Solana ecosystem, announced plans for a share buyback program potentially valued at $201 million. The company will repurchase up to 95% of its outstanding shares and warrants at a price of $3.00 per share, utilizing both existing cash reserves and proceeds generated from the recent sale of a portion of its Solana (SOL) holdings.
The move follows SkyAI’s decision to sell approximately half of its SOL treasury. The firm also confirmed it rejected an unsolicited acquisition offer from Forward Industries, described as a stock-for-stock bid. Details of the rejected offer were not disclosed.
SkyAI is offering a cash exit to shareholders as part of the buyback. The company did not specify a timeline for completion of the repurchase program. This action suggests confidence in the long-term value of the remaining Solana holdings and a strategic shift in capital allocation.
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Data captured at: Oct 13, 2026 08:42 (Tehran)
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| Altcoins | ▲ Positive |
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| Long term | ▲ Positive |
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Source: Bitcoin.com News