# SkyAI Exits Solana Treasury With $223.8 Million in Cash

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/34936
Published: 2026-10-19T17:57:07.000Z
Updated: 2026-10-19T17:57:07.000Z
Section: Business

> It plans to use the cash for a tender offer of up to $201.3 million for shares and warrants at $3 each.

SkyAI, a Nasdaq-listed treasury-management firm tied to the Solana ecosystem, has sold all Solana (SOL) held in its treasury and now holds $223.8 million in cash.

The company plans a tender offer worth up to $201.3 million to buy back shares and warrants. The offer price is $3 per share or warrant, and it is intended to cover as much as 95% of those securities.

The maximum offer value is $22.5 million below SkyAI's disclosed cash balance and amounts to about 90% of that total. The company plans to use its cash to fund the tender offer.

A tender offer is a direct proposal to buy securities from their holders at stated terms. SkyAI's proposal applies to two types of company securities, shares and warrants, rather than SOL; that makes the transaction a securities repurchase following the treasury exit. SkyAI focuses on managing liquidity and investment strategies in the Solana ecosystem.