Bastion Trading Requests SkyAI to Improve the Offer Repurchase Terms
2026-10-14 21:41:37
According to CoinMeta, Bastion Trading has requested that Solana's treasury company SkyAI improve the terms of its tender offer for repurchase. They question the sale of approximately 70% of SOL holdings within less than a month, leaving only about 600,000 coins, and there was insufficient disclosure regarding the sale timing, price, and approval process. Bastion and its related parties hold a total of about 9.99% of the shares. They are demanding that the company disclose the transaction details, restructure the board of directors, and raise the proposed cash tender offer price from $3 per share or per eligible warrant to at least $3.50, while also excluding management and related parties from participating in the repurchase.
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