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Oct 19, 2026

SkyAI sells entire Solana treasury, launches $201 million share buyback

SkyAI, formerly Sharps Technology Inc., has sold its entire Solana treasury of approximately 2 million SOL tokens and launched a tender offer to repurchase up to $201.3 million in shares and warrants. The company now holds $223.8 million in cash after exiting its cryptocurrency treasury strategy.

Oct 19, 2026·7 sources
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Top claims

  • ▪Activist investor Bastion Trading, which beneficially holds approximately 9.99% of SkyAI stock, requested a tender price of at least $3.50 per share.
  • ▪SkyAI intends to remain publicly listed on the Nasdaq exchange following the completion of its buyback transaction.
  • ▪SkyAI shares closed up 5.3% at $2.79 on October 19, 2026, having gained approximately 65% over the preceding month.

Topics

AltcoinsCrypto marketsInstitutional crypto adoptionSolana ecosystemCorporate treasury strategy