Bastion Trading Limited, holding nearly 10% of SkyAI, is contesting SkyAI's $3-per-share cash tender offer and demanding transparency on a sharp 70% drop in SkyAI's Solana holdings from over 2 million to about 600,000 SOL within a month. Bastion seeks detailed disclosure of sale dates, amounts, prices, proceeds, and approval processes, alongside shareholder-nominated independent directors and a special committee to oversee the offer. They also want the offer price raised to at least $3.50 and removal of certain conditions. Despite all five SkyAI directors receiving more votes against them at the recent annual meeting, they remain in office due to company rules. SkyAI plans to start the tender offer around October 15, contingent on Solana prices staying above $100.
The story about Bastion challenging SkyAI's tender offer and Solana sale transparency is presented here with Pluang's cryptocurrency market data for context. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Oct 15, 2026 09:51 WIB: out of 50 major cryptocurrencies, 5 rose and 44 fell. Notable movers include SNX at Rp3.860 with a 1-day change of -11.20% and 100% buy order activity, BAL at Rp16.297 with +11.14%, and ONE at Rp28 with -10.29% and a nearly balanced buy/sell order activity.
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