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SkyAI, Inc. (NASDAQ: SKYA), formerly Sharps Technology, Inc., provides extensive detail about its business transformation and capital structure through its SEC filings. The company’s 8-K filings document the formal name change to SkyAI, Inc., the shift in its Nasdaq ticker from STSS to SKYA for common stock and to SKYAW for warrants, and the strategic move from legacy operations toward a technology-driven financial platform focused on agentic finance for the Global South.
In its annual report on Form 10-K filed under the Sharps Technology name, the company discusses its treasury policy and digital asset strategy, including concentration in SOL, holdings of certain stablecoins, and the potential use of derivatives such as call and put options. These disclosures explain how the company has managed its digital asset treasury and contemplated using proceeds from asset sales to support expansion and product development.
Current reports on Form 8-K provide additional insight into governance, executive leadership, and shareholder-related actions. Filings describe the appointment and compensation arrangements of the Chief Financial Officer, amendments to bylaws, updates to the code of business conduct and ethics, and agreements with strategic advisors. Other 8-Ks outline a share repurchase program and the related open market repurchase agreement, as well as a lock-up agreement with a strategic advisor.
More recent 8-K disclosures also cover the company’s press releases announcing its rebrand to SkyAI, the opening of an operational headquarters in Hong Kong, and its focus on an AI- and blockchain-based agentic finance platform serving emerging markets. Together, SkyAI’s 10-K, 10-Q, and 8-K filings offer a structured view of its evolving business model, digital asset exposure, governance practices, and potential corporate transactions.
Sharps Technology, Inc. reporting persons filed an amended Schedule 13G/A disclosing shared beneficial ownership positions in the company's common stock as of May 15, 2026.
The filing lists aggregate holdings including 4,355,147 shares attributable to Wei Zhu (capped at 9.99% by warrant blockers) and shows a disclosed outstanding share base of 42,322,168 shares as of May 8, 2026. The filing states pre-funded warrants exercisable for 4,234,615 shares and stapled warrants exercisable for 5,384,615 shares held by Bastion Trading.
Sharps Technology reported a sharp swing to loss in the quarter ended March 31, 2026 as its new digital commodity treasury strategy dominated results. Net revenue from medical devices was modest at $192,780, while staking revenue from Solana-based holdings contributed $3.1 million.
The company recorded an unrealized loss on digital commodities of $70.8 million and a realized loss of $10.8 million, driving a net loss of $86.2 million, or $1.19 per share, compared with net income a year earlier. Fair value of SOL holdings fell to $162.5 million from $250.1 million at December 31, 2025, despite maintaining over 2.0 million SOL tokens.
Cash increased to $12.3 million as SOL sales and staking inflows outweighed operating and financing outflows. The company repurchased 867,678 shares for about $1.6 million and ended the quarter with stockholders’ equity of $178.8 million against minimal liabilities. Segment reporting now separates medical devices from the digital commodity treasury, underscoring the strategic pivot toward Solana-based assets.
Sharps Technology, Inc. details a major strategic pivot in its annual report, combining its legacy syringe distribution business with a new, SOL-focused digital asset treasury strategy funded by an approximately $400 million PIPE.
The company reports holding over 2,000,000 SOL, intends to stake up to 95% of its SOL, and uses multiple qualified custodians. It incurred a $282.5 million net loss in 2025, versus $9.3 million in 2024, leading to an accumulated deficit of $316.9 million. Sharps also launched a large at-the-market equity program and a $100 million share repurchase authorization, while entering a 20-year consulting agreement tied to the value of its digital assets.
Sharps Technology, Inc. appointed Arthur Levine as interim Chief Financial Officer under a fee agreement with DLA, LLC. His initial term is three months starting February 17, 2026, with any extension at the company’s discretion, and DLA will be paid $450 per hour for his services.
Levine is an experienced financial executive who has held CFO roles at public companies in healthcare and energy-related services and is a Certified Public Accountant. He has also signed the company’s standard indemnification agreement. Executive Chairman Paul Danner will serve as Principal Financial Officer while the company conducts its search for a permanent CFO.
Sharps Technology, Inc. now has a significant new shareholder group led by FalconX affiliates. FalconX Holdings Limited may be deemed to beneficially own 6,563,498 shares of common stock, or about 16.5% of the company, including shares issuable from stapled warrants that are exercisable within 60 days based on 33,363,003 shares outstanding as of January 20, 2026.
Subsidiaries Solios, Inc. and FalconX Alpha, Inc. each may be deemed to beneficially own 5,794,268 shares, or roughly 14.9%. MNNC-related funds and entities together hold smaller positions primarily through cash stapled warrants. On January 9, 2026, Solios acquired 461,538 shares through a cashless exercise of cash pre-funded warrants, while MNNC Master Fund and MNNC BTC Master Fund sold shares in open-market trades at prices around $1.93 to $1.97 per share.
The investor group states the securities were acquired for investment and to gain exposure to Sharps Technology’s business and growth prospects. They are already in discussions with management and the board regarding strategy, governance, and potential changes to the board and business approach, though they do not currently commit to specific transactional plans.
Sharps Technology major holder FalconX Holdings Limited and affiliated entities reported significant share activity. MNNC Capital Digital Asset Opportunities Master Fund LP and MNNC Capital Digital Opportunities BTC Master Fund LP sold a combined 769,320 shares of common stock on January 9 and 12, 2026 at prices around $1.93–$1.97 per share, reducing their indirect holdings in these funds to zero. On January 9, 2026, Solios, Inc., an affiliate of FalconX, exercised 461,538 cash pre-funded warrants with a $0.0001 exercise price into the same number of Sharps Technology common shares. The footnotes state that FalconX and its intermediate entities disclaim beneficial ownership except to the extent of their pecuniary interests.
Sharps Technology, Inc. (STSS) received a large investment from FalconX‑affiliated entities through an August 2025 private placement, and this Schedule 13D discloses their resulting ownership. FalconX Holdings Limited and related vehicles may be deemed to beneficially own about 20.0% of Sharps’ common stock, based on 28,226,153 shares outstanding.
Key investor Solios, Inc. holds warrants deemed to represent about 15.9% beneficial ownership, while MNNC funds hold smaller stakes of 3.2% and 2.2%. The group invested approximately $45.7 million in cash and digital assets, receiving shares plus multiple series of cash and cryptocurrency-funded warrants, some with a 9.99% beneficial ownership cap. The securities were acquired for investment, with no specific change‑of‑control or restructuring plans disclosed.
FalconX-affiliated entities reported significant holdings in Sharps Technology Inc. common stock and warrants on an initial Form 3. MNNC Capital Digital Asset Opportunities Master Fund LP holds 461,538 common shares and MNNC Capital Digital Opportunities BTC Master Fund LP holds 307,692 shares, both indirectly.
Through Solios, Inc., the group also indirectly holds cash and cryptocurrency stapled warrants and pre-funded warrants exercisable into Sharps common stock, including 4,871,192 shares underlying cryptocurrency stapled warrants at an exercise price of $9.75 and 4,871,192 shares underlying cryptocurrency pre-funded warrants at $0.0001, with the pre-funded warrants having no expiration date.
Sharps Technology, Inc. received a Schedule 13G from Bastion Trading Limited, Bastion Holdings Limited, and Wei Zhu reporting passive ownership of common stock. The Reporting Persons collectively report beneficial ownership of 3,615,046 shares of common stock, representing a 9.99% stake in the company. Due to EDGAR field limits, this percentage is shown as 9.9% on the cover pages.
Bastion Trading directly holds 1,428,394 common shares, as well as pre-funded warrants for up to 4,234,615 shares and additional warrants for up to 5,384,615 shares. These warrants are subject to a beneficial ownership blocker that prevents exercises which would push ownership above 9.99% of outstanding common stock. The ownership percentage is based on an estimated 34,000,000 shares outstanding plus 2,186,652 shares issuable upon warrant exercise within 60 days. The Reporting Persons certify the holdings are not for the purpose of changing or influencing control of Sharps Technology.
Sharps Technology, Inc. received an updated ownership report showing that funds advised by Saba Capital Management, together with related entities and Boaz R. Weinstein, beneficially own 3,050,450 shares of common stock and warrants, representing 9.99% of the class. The percentage is calculated using 28,995,402 shares outstanding as of December 15, 2025 plus 1,538,462 shares issuable upon exercise of certain warrants held by the reporting persons, as referenced in a recent prospectus.
The reporting group states that the securities are not held for the purpose or effect of changing or influencing control of Sharps Technology and are not part of any control-related transaction, other than activities solely in connection with a board nomination process allowed under relevant rules. Dividends and sale proceeds from these securities are payable to the funds and accounts advised by Saba Capital.