Nasdaq-listed SkyAI liquidates Solana holdings to fund stock buyback

SkyAI, a Nasdaq-listed company, sold all of its Solana cryptocurrency in October 2026 and offered to buy back shares from investors. The company held around 2 million SOL tokens and received $223.8 million from the sale. SkyAI has offered to repurchase up to 95 percent of its shares and warrants at $3.00 each, in a deal worth $201.3 million in total. The offer was due to close on October 29, 2026. One large investor, Bastion Trading, asked for a higher price of at least $3.50 per share. SkyAI first bought Solana in August 2025 after raising over $400 million. Between then and June 2026, the company earned about $12 million by staking those tokens.