SkyAI Shares Rise After Third Eye Backs Call to Improve Tender Offer Terms

02:18 PM EDT, 10/21/2026 (MT Newswires) -- SkyAI (SKYA) stock rose 1.6% in Wednesday trading after shareholder Third Eye backed Bastion Trading's call to improve the terms of SkyAI's tender offer for up to 95% of its outstanding common shares and pre-funded warrants.

Third Eye said Wednesday that SkyAI should expand the offer to cover 100% of its outstanding common shares and pre-funded warrants and increase the tender price to full net asset value. The investment firm also called for the value allocated to strategic adviser warrants to be redirected to existing investors.

Third Eye also backed Bastion Trading's call for director accountability and urged the SkyAI board to provide a transparent account of its decision-making.

The tender offer, launched Friday, seeks to acquire up to 95% of SkyAI's outstanding common shares and warrant classes for $3 per share or warrant.

Price: 2.88, Change: +0.04, Percent Change: +1.59