SkyAI, Inc. (Nasdaq: SKYA) has announced the commencement of a cash tender offer. The offer is scheduled to begin on October 16, 2026, and is set to expire at one minute after 11:59 p.m., New York City time, on October 29, 2026, unless extended or earlier terminated.
The company is seeking to purchase up to 95% of each class of its outstanding securities, specifically:
- 48,311,489 shares of common stock
- 4,880,734 cash pre-funded warrants
- 9,939,850 cryptocurrency pre-funded warrants
- 3,955,293 strategic warrants
The purchase price for each security is $3.00. For cash pre-funded warrants, cryptocurrency pre-funded warrants, and strategic warrants, the purchase price is calculated as $3.00 less the respective exercise price of $0.0001 per warrant.
According to the filing, SkyAI holds approximately $223.8 million in cash as of October 16, 2026. The company has completed the sale of all of its SOL holdings, meaning the offer is not conditioned on the price of SOL. The offer is not subject to a financing condition and will be funded entirely from the company's cash on hand. If the offer is fully subscribed, the aggregate purchase price will be approximately $201.3 million.
The offer is conditioned upon the tender of at least 50% of the offered securities for each class. If more than 95% of any class is properly tendered and not withdrawn, the company will purchase the securities on a pro rata basis within that class. Holders may withdraw their tendered securities at any time prior to the expiration of the offer.
The company’s Board has approved the offer. However, neither SkyAI nor its directors or officers is making any recommendation to shareholders regarding whether to tender their securities.
