SkyAI, a Nasdaq-listed company trading under the ticker SKYA, has sold its entire Solana treasury, more than 2 million SOL, and now holds approximately $223.8 million in cash. This sale, completed around October 16, 2026, is part of a share buyback offer capped at $201.3 million at $3 per share. The company, formerly known as Sharps Technology, had purchased its SOL at an average price of approximately $194, yet still generated more than $12 million in staking revenue. Bastion Trading, a shareholder holding approximately 9.99% of shares, is pressuring management and demanding governance changes before participating in the buyback offer.
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