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SkyAI, Inc. has announced plans to start a cash tender offer. The offer will buy up to 95 percent of each class of its shares and certain warrants paying $3 for each security. The announcement was made on October 11 2026. The proposal could amount to $201 million. SkyAI is using this move as part of a plan to rearrange its capital and to keep pushing toward an AI‑driven financial platform. I think SkyAI is making a move.
SkyAI says the price is 65 percent higher than the share price when the market closed on October 9. It is also than double the 60‑day average price. SkyAI has not yet started the offer. The offer will only go forward once final terms are set and after regulators approve it and other conditions are met. I notice SkyAIs price is high relative to averages.
Offer Covers Shares and Three Classes of Warrants
SkyAI plans to buy up to 46.37 million shares and 20.72 million warrants. These warrants include cash pre‑funded warrants, cryptocurrency pre‑funded warrants and strategic advisor warrants. If SkyAI follows through each eligible security will be bought for $3 in cash depending on offer terms. I see SkyAI covering a range of warrants.
SkyAI expects to begin the offer about October 15 2026. The offer is planned to last ten business days unless it is extended or ended sooner. SkyAI says the offer will need least half of each eligible security class to be tendered and not withdrawn in order to be valid. I note the start date is close
Another condition is that the price of Solana (SOL) must stay above $100 during the offer period unless the terms allow a waiver. SkyAI says it will fund the buybacks with cash it already has and, with money from selling Solana that it holds in its treasury. I see the Solana price condition is key.
SkyAI Rejects Forward Industries’ Proposal
Alongside the tender offer announcement, SkyAI disclosed that its board had rejected a new unsolicited, non-binding acquisition proposal from Forward Industries.
Forward’s proposal offered 0.306 shares of its common stock for each SkyAI share. After reviewing the terms, risks, financial position and future prospects of SkyAI, an independent special committee unanimously recommended rejecting the proposal. The board also unanimously concluded that the proposed exchange ratio undervalued the company and was not in shareholders’ best interests.
The decision leaves SkyAI pursuing its own strategy rather than proceeding with the proposed all-stock combination. The company said the tender offer provides an alternative for shareholders and warrant holders seeking liquidity while allowing those who retain their investments to participate in its future performance.
AI and Digital Assets Remain Central to Strategy
SkyAI calls itself a Solana digital-asset treasury company. SkyAI builds a platform that mixes stablecoin payment infrastructure on Solana with artificial intelligence.
SkyAI says the planned repurchase is meant to sharpen its capital structure while carrying on the transformation that SkyAI announced in May 2026. SkyAI ties assets to plans for AI‑driven financial services. However the tender offer is a capital‑management move, not a product launch.
This transaction shows how companies with cryptocurrency holdings can use treasury positions to back actions. In SkyAI’s case funding part of the repurchase with SOL sales means the deal depends on shareholder participation, legal rules and the cryptocurrency market.
SkyAI said it recently sold one million SOL tokens, about half of its holdings and still kept about one million SOL when it announced this. SkyAI may keep selling tokens if the market looks good.
Completion Depends on Conditions and Shareholder Decisions
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The tender offer is still a proposal, not a finished repurchase. SkyAI plans to file offer documents with the U.S. Securities and Exchange Commission. Those documents will list the terms, procedures and conditions for participation.
SkyAI says its board and officers do not advise holders on whether to tender their securities. Investors have to decide for themselves after reading the documents and weighing their personal financial, tax and legal situations.
The result will hinge on the offer terms how many securities are tendered, the SOL price condition and other legal and market rules. If the repurchase finishes it could cut the number of held shares and eligible warrants a lot while letting SkyAI keep chasing its AI‑focused financial platform on its own.
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