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SkyAI raises tender offer to $214.3M after deal with Bastion and sells all Solana holdings.

Market News
28 Oct 2026, 14:27 WIB
Crypto news
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Bullish
SkyAI raises tender offer to $214.3M after deal with Bastion and sells all Solana holdings.

SkyAI increased its cash tender offer to $214.3 million following an agreement with major shareholder Bastion Trading, who agreed to tender all their securities and accept a three-year restriction on shareholder activism. To fund the offer, SkyAI sold its entire Solana treasury, approximately 2 million SOL tokens, at an average price of $107.20 each, raising about $214.4 million. The revised offer now includes all eligible pre-funded and stapled warrants, expanding the scope from the original proposal. The tender deadline has been extended to November 12, giving investors more time to participate. SkyAI’s shares closed below the $3 tender price, and the company has ruled out repurchasing Solana after the tender, ending its previous crypto treasury strategy.

SkyAI's expanded cash tender offer now totals $214.3 million following a settlement with Bastion Trading. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 28, 2026 18:43 WIB: out of 50 major cryptocurrencies, 46 rose and 3 fell. Notable movers include EOS at Rp12.649 (+8.13%), Bitcoin Cash at Rp5.421.637 (+6.74%) with 97% sell order activity, and Terra Classic at Rp0,837 (+5.72%) with 70% buy order activity.

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