SkyAI is expanding its tender offer to incorporate cash stapled warrants and cryptocurrency-linked versions at 17 cents apiece. The company also raised its purchase target for outstanding pre-funded warrants to 100%, up from the previous 95% threshold, maintaining a purchase price of $3.00. Investors have until one minute past 11:59 pm on November 12 to participate in the amended offer.
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SkyAI Settles Dispute With Bastion Trading to Clear Path for Tender Offer
A three-year standstill agreement has ended the standoff between SkyAI and shareholder Bastion Trading Limited. Under the terms of the settlement, Bastion will tender all its shares and warrants, providing the agentic finance platform a resolution that allows the company to move forward with its revised acquisition strategy.
Executive Chairman Paul Danner described the deal as a method to ensure all holders of pre-funded and stapled warrants receive cash on equal terms. Bastion CEO Ningxiang Zhang characterized the settlement as a fair, balanced outcome that facilitates an orderly exit for his firm from its position in the company.
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