Solana treasury company SkyAI reached a settlement with major shareholder Bastion Trading over its $3-per-share buyback plan. Bastion, which had opposed the proposal and questioned board oversight following SkyAI's full liquidation of its SOL holdings, has shifted to supporting the repurchase initiative.
SkyAI confirmed it sold all 2 million SOL at an average price of $107 and holds $223.8 million in cash after completing the liquidation on October 19. The company stated it will not reacquire SOL following the share buyback.
SkyAI Settles With Bastion Trading on Share Buyback, Rules Out Future SOL Repurchases
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.