SkyAI Expands $3.00 Tender to All Pre-Funded and Stapled Warrants; Total Payout Rises to ~$214.3M
SKYA has more than doubled off its 52-week low of $0.91.
Summary
SkyAI settled with activist Bastion, which will tender its full stake and accept a three-year standstill, while the company expanded its $3.00 cash tender to 100% of pre-funded warrants and added stapled warrants at $0.17 — a total payout of about $214.3 million funded from cash on hand.
Key Events · M&A and Partnerships · SKYA
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Bastion Settlement and Standstill
Bastion Trading and affiliates will tender all 4,649,745 shares, 4,234,615 cash pre-funded warrants and 5,384,615 cash stapled warrants, and accept a three-year standstill barring acquisitions, director nominations and proxy solicitations.
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Tender Expanded to 100% of Warrants
Pre-funded warrant caps rise from 95% to 100% of each class; cash and cryptocurrency stapled warrants (strike $9.75) are added as new classes at $0.17 per stapled warrant, with no minimum tender condition for those classes.
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Total Payout ~$214.3M From Cash
If all securities sought are tendered the company pays approximately $214.3 million, funded from cash on hand with no financing condition; common stock and strategic warrants stay at $3.00 for up to 95% of each class.
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SOL Liquidated; ~$223M Cash Remains
The company sold approximately 2 million SOL at an average net price of $107.20 per SOL, holds approximately $223 million in cash, and no longer holds any SOL.
Analysis · SKYA · Crypto Assets
SkyAI bought peace with its activist holder and widened its own buyback at the same time. Bastion, which had been fighting the board, now tenders its entire stake — 4,649,745 shares, 4,234,615 cash pre-funded warrants and 5,384,615 cash stapled warrants — and accepts a three-year standstill that bars it from acquiring stock, nominating directors or soliciting proxies. In exchange the company raised the pre-funded warrant cap from 95% to 100% of each class, added the stapled warrants as new classes at $0.17 each (strike $9.75), and pushed the expiration to November 12, 2026. If everything sought is tendered the bill is about $214.3 million, paid from cash on hand — roughly $223 million after selling its remaining ~2 million SOL at an average net $107.20. The company is converting a Solana treasury that lost nearly half its value in H1 into a cash return, and the standstill removes the activist threat that has hung over the stock since September.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 36.5% of the 953 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.66%. 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 $148M. The 52-week trading range was $0.91 to $5.49. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.