TREE NEWS update: Solana treasury company SkyAI (SKYA) plans a cash tender offer to buy up to 95% of its outstanding common shares and warrants at $3 each, covering roughly 46.4 million shares and 20.7 million warrants for a maximum total of about $201 million. The company said it expects to fund the offer with existing cash and proceeds from selling its Solana holdings. The tender is expected to launch Thursday and run for 10 business days, subject to extension or early termination.
Solana treasury firm SkyAI launches $201M tender offer for up to 95% of shares
A Solana treasury vehicle using its own token holdings to buy back nearly all of its public float is a notable structural signal: it effectively converts equity holders into a cash exit funded by the balance sheet it was built to hold. The move matters for holders of the shares and warrants, who face a binary decision within a short window, and for how the market reads listed crypto-treasury vehicles generally — whether the equity is the product or merely a funding wrapper. Whether the offer is fully subscribed, and what remains of SkyAI's Solana position afterward, is the open question.
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