Solana treasury firm SkyAI launches $201M tender offer, rejects Forward Industries bid
- —Tender offer at $3 per share and warrant, up to 95% of the float
- —Covers up to 46.4M shares and 20.7M warrants, about $201M total
- —Funded by existing cash and proceeds from Solana asset sales
- —Board rejected Forward's 0.306-share exchange ratio as too low
Why it matters: The buyback will test whether listed Solana treasury vehicles can close discounts to the value of their token holdings.
Source: PANews