SkyAI Sells About 1 Million SOL to Fund Stock and Warrant Buybacks

SkyAI has sold about 1 million Solana (SOL), roughly half of its original holdings, and may sell more to fund stock and warrant buybacks.

The company said it still holds about 1 million SOL and could continue reducing the position depending on market conditions. Proceeds from the sales are intended for cash tender offers to repurchase shares and warrants.

SkyAI moved 1.57 million SOL on-chain this month, valued at about $175 million. The company’s average purchase price was about $194 per SOL, implying an estimated loss of more than $160 million on the transferred holdings.

The on-chain transfer total is not equivalent to the amount actually sold. The planned buybacks would use proceeds from the company’s digital-asset holdings to repurchase shares and warrants.