SkyAI sold its Solana reserves and started a reverse share

SkyAI sold all its corporate reserves of the Solana cryptocurrency and abandoned its strategy of accumulating digital assets.

Instead, the company launched a reverse stock buyback of up to 95% of its shares and warrants at $3 per unit for a total value of up to $201.3 million. This decision marks a shift in capital management priorities.

Previously, other public companies took similar actions, including Lion Group Holding and NewGenIvf Group, which also got rid of their SOL reserves.

SkyAI's tender offer is aimed at purchasing up to 67.1 million shares and warrants.