SkyAI Launches Cash Tender Offer for Up to 95% of Shares and Warrants

SkyAI (SKYA) launched a cash tender offer on October 16, with a purchase price of $3 per share or warrant, targeting up to 95% of all classes of issued common stock, cash pre-financing warrants, cryptocurrency pre-financing warrants, and strategic warrants. Based on cash holdings as of October 16, the purchase price is approximately 0.95 times its net asset value (mNAV). The offer will expire on October 30 at 12:00 PM, and if fully subscribed, the total purchase amount will be approximately $201.3 million. SkyAI stated that as of October 16, the company holds approximately $223.8 million in cash and has sold all SOL, so the offer will no longer be conditioned on the price of SOL, and the acquisition funds will come entirely from the company's existing cash. SkyAI plans to continue listing on NASDAQ after the offer is completed, building a financial platform that combines Solana stablecoin channels with AI.

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