SkyAI holder reports warrants for 4.23M shares
The warrant positions are subject to a 9.99% beneficial-ownership limit, and neither class held by Bastion Trading was currently exercisable.
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Form Type
3
Rhea-AI Filing Summary
For SkyAI, Inc. (SKYA), Bastion Trading Limited reported 1,385,417 directly held common shares and Pre-Funded and Stapled Warrants underlying 4,234,615 and 5,384,615 common shares, respectively; Lucio Holding Limited reported 2,940,075 indirectly held common shares as of October 7, 2026. Both warrant classes are subject to a 9.99% beneficial-ownership limit, and neither was currently exercisable. The joint reporting persons disclaim beneficial ownership except to the extent of their pecuniary interests.
Insights
Analyzing...
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
Bastion Trading Ltd
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Pre-Funded Warrants F5, F4, F2 | -- | -- | -- |
| holding | Stapled Warrants F6, F4, F2 | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share F1, F2 | -- | -- | -- |
| holding | Common Stock, par value $0.0001 per share F1, F3 | -- | -- | -- |
Holdings After Transaction:
Pre-Funded Warrants — 4,234,615 contracts (Direct);
Stapled Warrants — 5,384,615 contracts (Direct);
Common Stock, par value $0.0001 per share — 1,385,417 shares (Direct);
Common Stock, par value $0.0001 per share — 2,940,075 shares (Indirect, See footnote)
Footnotes (6)
- F1. This Form 3 is filed jointly by Bastion Trading Limited ("Bastion Trading"), Bastion Holdings Limited ("Bastion Holdings"), Lucio Holding Limited ("Lucio Holding") and Wei Zhu (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- F2. Securities beneficially owned by Bastion Trading. As the sole owner of Bastion Trading, Bastion Holdings may be deemed to beneficially own the securities beneficially owned directly by Bastion Trading. As the director of Bastion Holdings, Mr. Zhu may be deemed to beneficially own the securities beneficially owned directly by Bastion Trading.
- F3. Securities beneficially owned by Lucio Holding. As the director of Lucio Holding, Mr. Zhu may be deemed to beneficially own the securities beneficially owned directly by Lucio Holding.
- F4. Each of the Pre-Funded Warrants and the Stapled Warrants either provide, or the holder has elected, that the holder shall not have the right to exercise any portion of any such warrants to the extent that after giving effect to such issuance after exercise, such holder and certain of its affiliates would be deemed to beneficially own, as determined in accordance with Section 13(d) of the Exchange Act, more than 9.99% of the Issuer's then outstanding shares of common stock (the "Beneficial Ownership Limitations").
- F5. The Pre-Funded Warrants are immediately exercisable at an initial exercise price equal to $0.0001 per share and may be exercised at any time until the Pre-Funded Warrants are exercised in full, subject to the PFW Beneficial Ownership Limitation (as defined below). As of the date hereof, the Beneficial Ownership Limitation under the Pre-Funded Warrants is 9.99% of the Issuer's then outstanding shares of common stock (the "PFW Beneficial Ownership Limitation") and none of the Pre-Funded Warrants held by Bastion Trading are currently exercisable.
- F6. The Stapled Warrants are immediately exercisable at an initial exercise price equal to $9.75 per share and may be exercised at any time on or prior to 5:00pm New York City time on the date that is thirty-six (36) months after the issue date of the Stapled Warrants, subject to the SW Beneficial Ownership Limitation (as defined below). As of the date hereof, the Beneficial Ownership Limitation under the Stapled Warrants is 9.99% of the Issuer's then outstanding shares of common stock (the "SW Beneficial Ownership Limitation") and none of the Stapled Warrants held by Bastion Trading are currently exercisable.
Key Figures
Direct common shares: 1,385,417 shares
Indirect common shares: 2,940,075 shares
Pre-Funded Warrants underlying common shares: 4,234,615 shares
+4 more
7 metrics
Direct common shares
1,385,417 shares
Bastion Trading Limited; October 7, 2026
Indirect common shares
2,940,075 shares
Lucio Holding Limited; October 7, 2026
Pre-Funded Warrants underlying common shares
4,234,615 shares
Bastion Trading Limited; October 7, 2026
Stapled Warrants underlying common shares
5,384,615 shares
Bastion Trading Limited; October 7, 2026
Pre-Funded Warrant initial exercise price
$0.0001 per share
Bastion Trading Limited's reported warrants
Stapled Warrant initial exercise price
$9.75 per share
Bastion Trading Limited's reported warrants
Beneficial-ownership limit
9.99%
Applies to both warrant classes
Key Terms
Pre-Funded Warrants, Stapled Warrants, Beneficial Ownership Limitations, pecuniary interest, +1 more
5 terms
Pre-Funded Warrants technical
"initial exercise price equal to $0.0001 per share"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
Stapled Warrants technical
"initial exercise price equal to $9.75 per share"
Stapled warrants are financial instruments that are permanently attached to another security, such as a share or unit, and cannot be bought or sold on their own. They give the holder the right to buy additional shares at a set price within a set time, creating potential extra upside or dilution; think of them like a discount coupon that comes fixed to a product — it can boost future returns but also affects overall share supply and valuation for investors.
Beneficial Ownership Limitations regulatory
"more than 9.99% of the Issuer's then outstanding shares of common stock"
Beneficial ownership limitations are rules or contractual caps that restrict how much of a company’s stock an individual or entity can be treated as owning or controlling for legal, regulatory or corporate-governance purposes. They matter to investors because such limits affect voting power, reporting obligations, takeover risk and the ability to increase a stake — like an elevator weight limit or a lane divider that prevents any one car from taking over the whole road.
pecuniary interest regulatory
"except to the extent of his or its pecuniary interest therein"
Section 13(d) group regulatory
"member of a Section 13(d) group"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What SKYA holdings did Bastion Trading and Lucio Holding report?
Bastion Trading Limited reported 1,385,417 directly held common shares and warrants underlying 4,234,615 and 5,384,615 common shares; Lucio Holding Limited reported 2,940,075 indirectly held common shares. The positions were reported on October 7, 2026.
What are the SKYA warrant terms?
The Pre-Funded Warrants have an initial exercise price of $0.0001 per share, and the Stapled Warrants have an initial exercise price of $9.75 per share. Each class is subject to a 9.99% beneficial-ownership limit; neither class held by Bastion Trading Limited was currently exercisable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
