A Solana treasury company sold every SOL it held

SkyAI has turned a treasury built around SOL into cash for a tender offer. Its latest SEC exhibit says it no longer holds the token, yet its description of the business still includes a financial platform on Solana. The transaction leaves a concrete question for shareholders who bought a stock marketed as a way to own more SOL per share. What business and assets would they own if they decline $3 in cash? Summary SkyAI said on October 19 that it held $223.8 million in cash and no SOL as of October 16. The tender seeks up to 67.1 million shares and warrants at $3 each, or roughly $201.3 million. Eligible holders have until October 29 to tender unless SkyAI changes the deadline. The offer covers up to 95% of each of four eligible security classes. Bastion Trading has demanded a tender price of at least $3.50 per eligible security. SkyAI has completed the sale of its Solana treasury and started a cash tender offer that could buy up to 95% of its shares and three classes of warrants. Its October 19 SEC exhibit reports $223.8 million in cash and no SOL as of October 16. The company offers $3 per eligible share or warrant, with a maximum cash purchase price of approximately $201.3 million...