04:04 AM EDT, 10/12/2026 (MT Newswires) -- SkyAI (SKYA) plans to launch a cash tender offer to buy up to 95% of its outstanding common stock and warrants for $3 each, the company said late Sunday.
The proposed offer would cover up to about 46.4 million common shares and about 20.7 million warrants for a maximum aggregate purchase price of about $201 million.
The company expects to fund the purchases with cash on hand and proceeds from the sale of its Solana holdings.
The tender offer is expected to begin on Thursday and continue for 10 business days, subject to extension or early termination, it said.
Separately, SkyAI's board has rejected an unsolicited, nonbinding all-stock acquisition proposal from Forward Industries (FWDI) after determining that the proposed exchange of 0.306 shares for each SkyAI share undervalued the company.