Solana treasury firm SkyAI reveals $107.20 average $SOL sale price
SkyAI says in an Oct. 28 SEC filing that it sold about 2 million $SOL at an average of $107.20 and now holds none.
Solana treasury firm SkyAI (Nasdaq: SKYA) has put a price on its exit from Solana ($SOL). In a press release filed with the U.S. Securities and Exchange Commission, it said it sold about 2 million $SOL at an average of $107.20 each, net of fees.
The quick take
- Price: $SOL $101.09, +0.1% in 24 hours and -6.8% over 7 days (CoinGecko, 1:41 p.m. ET).
- Trigger: SkyAI settled with shareholder Bastion Trading and extended its $3.00 cash tender offer to Nov. 12.
- Watch: Whether at least half of each share and warrant class is tendered before the new deadline.
What happened
SkyAI said the sales took place in the weeks before its cash tender offer began on Oct. 16. The company now holds about $223 million in cash and no $SOL. It also said it will not buy $SOL back after the offer closes.
The release, dated Oct. 27, also announced a settlement with Bastion Trading, a major shareholder. Bastion agreed to tender all of its shares and warrants and to a three-year standstill. SolanaFloor reports that Bastion owns about 9.99% of SkyAI and had asked for $3.50 a share.
Who’s buying and selling
SkyAI was a large seller, not a buyer. Its average sale price sits about 6.0% above the $SOL price of $101.09 at 1:41 p.m. ET, per CoinGecko. The token is up 0.1% over 24 hours and down 6.8% over seven days.
Other buyers are pulling back too. SolanaFloor says spot $SOL exchange-traded funds have lost $99.62 million in October so far.
What to watch next
The offer now ends one minute after 11:59 p.m. New York time on Nov. 12, instead of Oct. 29. SkyAI still seeks up to 95% of its common stock at $3.00 a share. It raised the cap on pre-funded warrants to 100% and added stapled warrants at $0.17 each.
If every security sought is tendered, SkyAI will pay about $214.3 million from cash on hand. The first terms covered up to 67.1 million shares and warrants at $3.00, or about $201 million. Every class except the stapled warrants still needs at least 50% tendered to be accepted.
Bottom line: SkyAI has fully left $SOL, and its filing now shows the coins went for about $107 each on average.
Sources
- SkyAI press release, Exhibit 99.1 to Form 8-K (SEC EDGAR, filed Oct. 28, 2026)
- SkyAI Form 8-K, Item 1.01: tender support and settlement agreement (SEC EDGAR)
- SkyAI press release on the start of its tender offer, Oct. 19, 2026 (SEC EDGAR)
- SolanaFloor: SkyAI winds down its $SOL treasury strategy
- CoinGecko: Solana price
Price data: CoinGecko. Not financial advice.
