Bastion Trading Opposes SkyAI Buyback, Seeks Higher Price and More Disclosure
Bastion Trading, which owns about 9.99% of SkyAI, publicly challenged SkyAI's proposed cash tender offer announced on October 11, 2026, to buy up to 95% of common stock at $3.00 per share plus warrants, for a total of roughly $201 million. Bastion wants more disclosure about SkyAI's Solana sales, a higher offer of at least $3.50 per share, and changes to the board, citing an estimated net asset value of about $3.30 per share. The offer requires at least 50% of each security class to be tendered and SOL to trade above $100 during the offer window.
SkyAI shareholders, especially smaller holders deciding whether to tender, could face uncertainty while the bid’s conditions remain unmet. Crypto market observers may watch whether large Solana sales and the $100 threshold affect token liquidity or sentiment. The dispute could also draw attention to how public companies disclose digital-asset treasury moves and board accountability, potentially influencing investor confidence in similar firms. If the offer stalls or improves, outcomes may shape perceptions of shareholder activism in crypto-linked equities. Count: SkyAI1 shareholders2 especially3 smaller4 holders5 deciding6 whether7 to8 tender9 could10 face11 uncertainty12 while13 the14 bid’s15 conditions16 remain17 unmet18. Crypto19 market20 observers21 may22 watch23 whether24 large25 Solana26 sales27 and28 the29 $10030 threshold31 affect32 token33 liquidity34 or35 sentiment36. The37 dispute38 could39 also40 draw41 attention42 to43 how44 public45 companies46 disclose47 digital-asset48