Add as a preferred source on GoogleSkyAI Plans $201 Million Tender Offer After Rejecting Forward Bid
The cash offer would buy up to 95% of SkyAI’s outstanding shares and warrants at $3 each. The company expects the offer to begin Oct. 15.
SkyAI plans to launch a cash tender offer of up to $201 million for as much as 95% of its outstanding common shares and warrants after rejecting a competing acquisition proposal.
The offer would pay $3 per share and cover up to about 46.4 million common shares and 20.7 million warrants. SkyAI plans to fund the purchase with existing cash and proceeds from selling Solana assets.
The company expects the tender offer to begin Oct. 15 and remain open for 10 business days. SkyAI said the timetable may change if the offer is extended or ended early.
SkyAI’s board also rejected a nonbinding proposal from Forward Industries that would have exchanged 0.306 Forward Industries shares for each SkyAI share. The board determined that the proposed exchange ratio undervalued SkyAI.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.