Bastion Demands $3.50 SkyAI Tender Price and Board Overhaul

Bastion Trading Challenges SkyAI’s Proposed Tender Offer, Demands Immediate and Full Disclosure ...

Questions Legitimacy of Incumbent Board Following Overwhelming Stockholder Withhold Vote; Calls for Independent Oversight and Materially Improved Tender Offer Terms

Bastion challenges SkyAI's $201M buyback as SOL treasury falls 70%

Bastion Trading, which, with affiliates, owns about 9.99% of SkyAI (Nasdaq: SKYA), challenged the company’s proposed $201 million buyback on October 14. SkyAI’s Solana holdings had fallen roughly 70% in under a month, and Bastion wants to know exactly when and how the tokens were sold. The clash could resonate beyond SkyAI. If crypto treasury companies face...

SkyAI’s Solana Holdings Fall to About 600,000 SOL

Bastion Trading is seeking transaction records and an independent review as SkyAI prepares a tender offer for shares and eligible warrants.

SkyAI Solana Selloff Raises Questions Before Buyback

TLDR SkyAI’s Solana holdings dropped roughly 70%, from over 2 million SOL to approximately 600,000 tokens. Bastion Trading questioned an unexplained 400,000 SOL difference in SkyAI’s latest disclosures. Bastion demanded complete transaction records and independent oversight before participating in the proposed buyback. The shareholder wants SkyAI to increase its repurchase offer from $3 to at [...]

Major shareholder presses SkyAI on Solana sales after treasury shrinks 70% in a month

SkyAI's SOL treasury fell 70% in under a month, with 400,000 SOL unexplained. Bastion Trading won't tender at $3 a share and wants $3.50.