SkyAI, Inc. (SKYA) Form 8-K — Oct 28, 2026
SkyAI (Nasdaq: SKYA) entered a tender offer support and settlement agreement with Bastion Trading Limited, under which Bastion will tender all of its 4,649,745 shares, 4,234,615 cash pre-funded warrants and 5,384,615 cash stapled warrants into the company's amended cash tender offer. SkyAI will amend the Offer to buy up to 100% of pre-funded warrants (up from 95%) at $3.00 each less the $0.0001 exercise price, add stapled warrants at $0.17 each, extend expiration to November 12, 2026, and drop a 30% withholding provision for non-U.S. holders. Common stock and strategic warrants remain sought at $3.00 with a 50% minimum tender per class.
Key figures
- Cash Position
- $223 million in cash
- Deal Value Usd
- $214.3 million maximum aggregate payout if all securities sought are tendered
- Sol sold
- approximately 2 million SOL at average net price of $107.20 per SOL
- Bastion shares
- 4649745
- Offer expiration
- November 12, 2026
- Standstill period
- 3 years
- Stapled warrant price
- $0.17 per stapled warrant
- Classes sought percent
- 95% of common stock and strategic warrants; 100% of pre-funded warrants and stapled warrants
- Common stock offer price
- $3.00 per share
- Minimum tender condition
- 50% minimum subscription per class (common stock, strategic warrants, pre-funded warrants)
- Pre funded warrant price
- $3.00 per cash or cryptocurrency pre-funded warrant less $0.0001 exercise price
- Expense reimbursement cap
- $300,000
- Bastion cash stapled warrants
- 5384615
- Stapled warrant exercise price
- $9.75 per share
- Bastion cash prefunded warrants
- 4234615
AI analysis
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