SkyAI Amends $3.00 Tender Offer: Adds Stapled Warrants at $0.17, Extends to Nov 12
SKYA has more than doubled off its 52-week low of $0.91.
Summary
SkyAI's Amendment No. 3 to its $3.00 cash tender offer expands the deal to 100% of pre-funded warrants, adds stapled warrants at $0.17 each, extends the deadline to at least November 12, 2026, and drops the 30% non-U.S. withholding — all under the October 27 Bastion settlement.
Key Events · M&A and Partnerships · SKYA
-
Tender Offer Terms Expanded
The offer now covers 100% of cash pre-funded warrants and 100% of cryptocurrency pre-funded warrants, up from caps of 4,880,734 and 9,939,850 respectively, and adds cash and crypto stapled warrants at $0.17 per stapled warrant with no minimum tender condition.
-
Deadline Extended to November 12
The offer term is extended until at least November 12, 2026, and the 30% withholding on payments to Non-U.S. Holders is deleted, with the Company agreeing not to make such withholding.
-
Bastion Standstill and Tender
Bastion Trading agreed to tender all securities it beneficially owns and to a three-year standstill barring purchases, board nominations, proxy solicitations, or transfers that would give a third party more than 5%.
-
Bastion Gets Offer Veto Rights
The Company may not alter certain offer terms without Bastion's approval, Bastion cannot sell outside the offer until expiration, and the Company holds a right of first refusal on post-offer block trades.
Analysis · SKYA · Crypto Assets
This operative amendment implements the October 27 Bastion settlement and materially widens what the company will buy back. The offer now covers 100% of the cash and crypto pre-funded warrants (previously capped at 4,880,734 and 9,939,850) and adds both classes of stapled warrants at $0.17 each, with no minimum tender condition. The deadline moves to at least November 12, 2026, and the 30% withholding on non-U.S. holders is removed — a change that matters for the offshore warrant holders the company is trying to flush out. On Bastion's side, the bargain includes a three-year standstill plus a commitment to tender its full stake, which removes the activist threat that has hung over the stock since September. The trade-off: Bastion gets veto rights over changes to the offer terms and a right of first refusal on post-offer block trades, giving a former adversary meaningful influence over the buyback's mechanics.
How filings like this one have moved
In the 30 days to Nov 12, 2026, 47.3% of the 1873 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.17%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, SKYA was trading at $2.93 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $150M. The 52-week trading range was $0.91 to $5.47. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.