SkyAI Faces Shareholder Pressure After SOL Treasury Shrinks 70%
SkyAI's Solana treasury fell 70% in under a month with 400,000 SOL unexplained, prompting Bastion Trading to reject a $3 share tender offer.
Major shareholder Bastion Trading has pressed SkyAI regarding a sharp contraction in its Solana treasury, according to TheBlock. SkyAI's SOL holdings fell 70% in under a month, leaving 400,000 SOL unexplained by the firm.
Tender Offer Dispute
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Amid the treasury decline, Bastion Trading rejected a tender offer at $3 per share. The firm stated it is seeking a higher price of $3.50 per share instead.
Key Facts
- SkyAI's SOL treasury fell 70% in under a month
- An amount of 400,000 SOL remains unexplained
- Bastion Trading rejected a tender offer at $3 a share
- Bastion Trading is demanding $3.50 per share
Source: theblock.co
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