SkyAI Liquidates Entire 2 Million Solana Stake, Holds Zero Tokens
SKYA has more than doubled off its 52-week low of $0.91 on elevated volume (2.0× avg).
Summary
SkyAI has sold off its entire Solana treasury, dropping from more than 2 million tokens in September to zero as of Oct. 16. The company now holds $223.8M in cash, which lines up with the funding for its $201.3M tender offer at $3.00 per share or warrant launched today. This closes the loop on the pivot away from a crypto treasury strategy that produced a $109.5M net loss in H1 2026 as Solana lost nearly half its value. The liquidation removes the remaining mark-to-market exposure to Solana, so the stock's value now hinges on the tender offer and the AI finance platform pivot rather than token prices. The tender offer runs through its expiration; watch the take-up rate against the 95% cap.
At the time of this announcement, SKYA was trading at $2.81 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $121.3M. The 52-week trading range was $0.91 to $5.49. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Bloomingbit.