Bastion Trading Opposes SkyAI Tender Offer, Demands $3.50 Per Share

Key Facts

1Bastion Trading, holding a 9.99% stake in SkyAI, opposes the company's $3-per-share tender offer.

2Bastion demanded more disclosure regarding the sale of approximately 70% of SkyAI's Solana treasury.

3The investor is seeking a higher tender price of at least $3.50 and changes to the board of directors.

Bastion Trading, which holds a 9.99% stake in SkyAI, is opposing the company's $3-per-share tender offer. According to news.bitcoin.com, the investor is seeking a higher tender price of at least $3.50 and is demanding changes to the board of directors as a condition for its participation.

Bastion demanded more disclosure regarding the sale of approximately 70% of SkyAI's Solana treasury, noting that only about 600,000 SOL remains. SKYA closed at $2.55 on October 14, 2026, trading below both the current $3 offer and the $3.50 price sought by the activist investor.