SkyAI, Inc. announced its current intention to commence a cash tender offer to purchase up to 95% of each class of its outstanding common stock, cash pre-funded warrants, cryptocurrency pre-funded warrants and strategic advisor warrants for $3.00 per share in cash, with an expected maximum aggregate purchase price of approximately $201 million. The offer is expected to commence on or about October 15, 2026, and continue for 10 business days unless extended or terminated earlier. It is contingent on at least 50% of each class being validly tendered and not withdrawn, and SOL remaining above $100 per SOL throughout the offer period. The offer has not commenced and may not commence.
SkyAI expects to fund purchases with cash on hand and proceeds from SOL sales, and says the offer has no financing condition because its current cash and the market value of its digital assets exceed the maximum aggregate purchase price. It suspended other common-stock repurchases until at least 10 business days after the offer expires. The Board rejected Forward Industries’ latest unsolicited, non-binding proposal, an exchange of 0.306 Forward shares per SkyAI share, after determining it undervalued SkyAI and was not in shareholders’ best interests.
SkyAI, Inc. (SKYA) ten-percent owner Bastion Trading Ltd purchased 44,000 common shares on October 7, 2026, at a weighted average price of $1.7787 per share under a Rule 10b5-1 plan. The purchases were made in multiple transactions at prices from $1.7700 to $1.7900. Bastion Trading’s direct holdings after the purchase were 1,429,417 shares.
The report also lists Pre-Funded Warrants for 4,234,615 underlying common shares and Stapled Warrants for 5,384,615 underlying common shares; both are subject to a 9.99% beneficial ownership limit, and neither was currently exercisable as of October 7, 2026. The Stapled Warrants have a $9.75-per-share exercise price and expire August 25, 2028. Separately, Lucio Holding Limited held 2,940,075 common shares indirectly; its director, Wei Zhu, may be deemed to beneficially own them.
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.
SkyAI, Inc. (SKYA) reported results from its September 18, 2026 annual meeting, where 35,551,429 shares were represented in person or by proxy out of 43,247,506 shares eligible to vote as of August 11, 2026. The represented shares were approximately 82.2% of eligible shares and constituted a quorum.
Among the five director nominees, Yuwen (Alice) Zhang received 9,200,392 votes for and Paul K. Danner received 9,118,922. Soren Bo Christiansen, Jason Monroe, and Timothy J. Ruemler received 6,894,675, 6,901,524, and 7,499,764 votes for, respectively.
SkyAI, Inc. (SKYA) is the subject of a Schedule 13D reporting that Wei Zhu, Bastion Trading Limited, Bastion Holdings Limited and Lucio Holding Limited beneficially own 4,294,891 shares of common stock, or approximately 9.99% of shares outstanding, based on 42,982,506 shares outstanding as of August 4, 2026. Bastion Trading directly holds 1,345,417 shares (about 3.2%), Lucio Holding directly holds 2,940,075 shares (about 6.8%), and Mr. Zhu may be deemed to beneficially own their combined position.
The group’s stake includes warrants held by Bastion Trading: 4,234,615 Pre-Funded Warrants (exercise price $0.0001 per share, purchased at $6.4999 per warrant) and 5,384,615 Stapled Warrants (exercise price $9.75 per share, expiring 36 months after August 25, 2025), all subject to a 9.99% Beneficial Ownership Limitation. The investors state they viewed SkyAI’s shares and participation in a $400 million PIPE that closed on August 25, 2025 as attractive investment opportunities and indicate they may buy or sell additional securities over time. They currently intend to vote “WITHHOLD ALL” on the re-election of all five incumbent directors at the 2026 annual meeting and indicate plans to engage with the board, management and other stockholders regarding SkyAI’s strategy and governance.
SkyAI, Inc. received an amended Schedule 13G from Bastion Trading Limited, Bastion Holdings Limited, Lucio Holding Limited and Wei Zhu reporting their beneficial ownership. As of August 13, 2026, Wei Zhu is reported as beneficially owning 4,294,891 shares of SkyAI common stock, representing a capped 9.99% interest. Bastion Trading and Bastion Holdings each report beneficial ownership of 1,354,816 shares (about 3.2% each), and Lucio Holding reports 2,940,075 shares (about 6.8%). The ownership includes 1,345,417 common shares, pre-funded warrants exercisable for up to 4,234,615 shares and stapled warrants exercisable for up to 5,384,615 shares, subject to Beneficial Ownership Blockers limiting post-exercise ownership to 9.99% of outstanding common stock. Percentages are based on 42,982,506 shares outstanding as of August 4, 2026, plus 9,399 warrant shares exercisable within 60 days for certain holders.
Saba Capital Management, L.P., together with Saba Capital Management GP, LLC and Boaz R. Weinstein, reports beneficial ownership of 3,050,450 shares of SkyAI, Inc. common stock and warrants, representing 6.85% of the class. The percentage is based on 42,982,506 shares outstanding as of August 4, 2026 plus 1,538,462 shares issuable upon exercise of certain warrants held by the reporting parties. Voting and dispositive powers over these shares are reported as shared, with no sole voting or dispositive power. Funds and accounts advised by Saba Capital have the right to receive dividends and sale proceeds from the common stock.
SkyAI, Inc. reported unaudited results for the three and six months ended June 30, 2026. For the first half of 2026, the company recorded a net loss from continuing operations of $109,520,033, compared with income from continuing operations of $7,769,654 a year earlier, primarily reflecting losses on its Solana ("SOL") treasury holdings.
Staking revenue from SOL was $5,457,656 for the six-month period, but this was outweighed by an unrealized loss on digital commodities of $84,336,553 and a realized loss of $14,716,799. Legacy medical device net revenue was $192,780, with activity focused on sales and distribution after manufacturing was discontinued in 2025.
At June 30, 2026, SkyAI held 2,003,676 SOL with a cost basis of $381,570,910 and a fair value of $144,282,193, plus cash of $12,071,008. Total liabilities were $3,070,440 against stockholders’ equity of $157,280,135. Under its 2025 repurchase program, 1,213,669 shares had been bought back into treasury at a cost of $2,011,573.
SkyAI, Inc., a Nevada corporation listed on the Nasdaq Capital Market, reports that its board formed a special committee of independent directors to evaluate an unsolicited, non-binding proposal from Forward Industries, Inc. for a potential all-stock business combination.
After completing this review, both the special committee and the full board unanimously concluded that the proposal was not in the best interests of SkyAI shareholders. The company states that it is not pursuing this transaction at this time.
SkyAI, Inc. reported that its Chief Financial Officer, Arthur Levine, has filed a Form 3, which is the initial statement of beneficial ownership for insiders. The filing does not list any transactions, meaning no recent insider purchases, sales, or derivative exercises are reported in this document.