GlobeNewswire·Oct 19, 2026, 8:35 AM ET

SkyAI Commences Cash Tender Offer to Purchase Up to 67.1 Million Shares and Warrants

SkyAI, Inc. (NASDAQ: SKYA) commenced a cash tender offer on October 16, 2026, to purchase up to 95% of its outstanding common stock, cash pre-funded warrants, cryptocurrency pre-funded warrants, and strategic warrants at $3.00 per share or warrant.
The offer expires at 11:59 p.m. New York City time on October 29, 2026, unless extended or terminated earlier.
The purchase price represents approximately a 0.95x multiple of the company's net asset value based on cash holdings as of October 16, 2026.
Holders of warrants may tender them directly for the offer price without first exercising them into common stock.
The company holds approximately $223.8 million in cash, has sold all SOL holdings, and the offer is not conditioned on the price of SOL.
The offer is fully funded from existing cash on hand, requires no borrowing, and has an aggregate purchase price of approximately $201.3 million if fully subscribed.
Specific tender conditions require a minimum of 50% participation for each class of securities, with shares, pre-funded warrants, and strategic warrants evaluated independently.
If more than 95% of any class is tendered, the company will purchase securities on a pro rata basis within that class.
The company intends to maintain its Nasdaq Capital Market listing and SEC registration following the offer.
The board approved the offer but provides no recommendation regarding participation, urging holders to review official Offer Materials filed with the SEC.