SkyAI, formerly Sharps Technology, a Nasdaq-listed Solana treasury company, filed with the SEC on October 13. The company reports holding approximately 600,000 SOL and having about 80% of the cash required for a repurchase at $3 per share. The proposed tender offer has a maximum payout of approximately $201 million, contingent on SOL remaining above $100 throughout the offer period and at least 50% participation in each securities class. The board rejected Forward Industries’ proposal as undervaluing the company, and the offer is expected to begin on or around October 15.
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