By Elias Schisgall
SkyAI shareholder Bastion Trading Limited agreed to a three-year standstill and to tender all of its shares and warrants for cash in a settlement with the company.
The agentic finance platform said it had agreed to extend its tender offer to include cash stapled warrants and cryptocurrency stapled warrants for 17 cents each. It also said it will purchase up to 100% of outstanding pre-funded cash or cryptocurrency warrants, up from 95%, with the same purchase price of $3.00.
The tender offer was amended to expire one minute past 11:59 pm on Nov. 12.
"We are pleased to have reached a constructive agreement with Bastion that provides a clear path forward for all parties," SkyAI Executive Chairman Paul Danner said. "By expanding the Offer, we are ensuring that all holders of our pre-funded warrants and stapled warrants have the same opportunity to receive cash for their securities on equal terms, while facilitating a timely and orderly process."
Bastion Chief Executive Officer Ningxiang Zhang said the outcome is fair and balanced, and allows for his firm to pursue a "clear and orderly exit."
Write to Elias Schisgall at [email protected]