# SkyAI Plans $201 Million Cash Tender Offer and Rejects Acquisition Bid

- URL: https://stocks.freetheai.org/news/skyai-plans-201-million-cash-tender-offer-and-rejects-acquisition-bid-6ec1d1
- Published: 2026-10-12T09:43:31Z
- Category: company_news; sentiment: bullish; impact: high
- Symbols: [NASDAQ:SKYA](https://stocks.freetheai.org/symbols/NASDAQ-SKYA), [CRYPTO:SOLUSD](https://stocks.freetheai.org/symbols/CRYPTO-SOLUSD), [NASDAQ:FWDI](https://stocks.freetheai.org/symbols/NASDAQ-FWDI)
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SkyAI, Inc. (NASDAQ:SKYA) shares advanced after the company disclosed plans to launch a cash tender offer valued at up to $201 million. Under the proposal, the business intends to buy back up to 95% of its outstanding common shares and several classes of warrants for $3 each. The offer price represents a 65% premium over its October 9 closing price.

The buyback will cover as many as 46.37 million common shares and 20.72 million warrants. To proceed, security holders must tender at least 50% of each eligible class, and Solana (CRYPTO:SOLUSD) must remain priced above $100 throughout the offer period. SkyAI plans to fund the repurchases through available cash and sales of Solana tokens, having already sold roughly 1 million tokens while retaining another 1 million. Separately, the board unanimously rejected an unsolicited takeover attempt from Forward Industries, Inc. (NASDAQ:FWDI), ruling that the stock-swap offer undervalued the company.

SkyAI expects to initiate the tender offer around October 15, keeping it open for 10 business days unless extended or canceled early. Meanwhile, the company has paused its existing share repurchase program as it focuses on developing its artificial intelligence financial platform, which integrates stablecoins on the Solana network.

## Key points

- SkyAI, Inc. (NASDAQ:SKYA) plans to launch a cash tender offer of up to $201 million to buy back shares and warrants at $3 per unit.
- The $3 repurchase price is a 65% premium over the company's October 9 closing price.
- The offer requires a 50% minimum tender rate per class and relies on Solana remaining above $100.
- SkyAI rejected an unsolicited takeover proposal from Forward Industries, Inc. (NASDAQ:FWDI).

## Questions and answers

### What are the terms of SkyAI's tender offer?

SkyAI plans to buy back up to 95% of its common shares and select warrants at $3 per unit, totaling up to $201 million, funded by cash and Solana token sales.

### Why did SkyAI reject the acquisition offer from Forward Industries?

SkyAI's board unanimously rejected Forward Industries' offer to swap 0.306 of its shares for each SkyAI share, concluding that the deal undervalued the business.

### What conditions must be met for SkyAI's tender offer to proceed?

At least 50% of each eligible class of securities must be tendered, and the price of Solana must stay above $100 during the offer period.