SkyAI sells all SOL treasury, launches $201.3M tender offer to repurchase shares

SkyAI, formerly Sharps Technology, has liquidated its entire Solana (SOL) treasury, holding approximately $223.8 million in cash as of Oct. 16. The company launched a tender offer to repurchase up to $201.3 million in shares and warrants, covering up to 95% of each class, funded entirely by cash on hand. The buyback is no longer tied to SOL's price, reversing the company's earlier cryptocurrency accumulation strategy.