SkyAI to Sell Half Its SOL Treasury, Plans $201M Buyback

What stands out is the structure: a buyback funded by liquidating a core treasury asset, rather than from operating cash flow, and one with a price trigger attached. The SOL-above-$100 condition effectively ties the offer to the same asset being sold, so a market move could delay or void the whole plan. For holders of the eligible shares and warrants, the tender is the near-term decision point; for the wider market, the signal is that crypto-treasury balance sheets can be converted into equity-return events. Whether that template spreads is the open question.