October 13th 2026, 5:30 AM
SkyAI to Repurpose SOL Sales for 95% Share Buyback
Key Summary
SkyAI, a treasury firm, plans a $201 million share buyback of Solana (SOL) tokens following the sale of its SOL holdings. This move comes as the company seeks to reduce its exposure to the bear market and maintain its financial stability. The buyback is part of SkyAI's efforts to mitigate potential losses and ensure its long-term sustainability.
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Background
SkyAI plans to buy back as much as 95% of its outstanding shares and warrants for $3 each, using cash and proceeds from selling solana.Motivation
The move comes after the company sold roughly half its SOL treasury and rejected an unsolicited stock-for-stock bid from Forward Industries.#Solana#SkyAI#BearMarket#SOL