From TokenPost · · 50s
SkyAI Shareholder Demands Board Accountability
Bastion Trading demands SkyAI explain full Solana sale and improve cash tender offer terms.
In brief
Bastion Trading demands SkyAI explain full Solana sale and improve cash tender offer terms. SkyAI's 9.99% shareholder Bastion Trading wants the company to raise its cash tender offer from $3 to $3.50 per share and include 100% of pre-funded warrants. Originally reported by TokenPost.
Bastion Trading Demands Explanation
Bastion Trading, SkyAI's 9.99% shareholder, demands a public explanation of the company's full Solana treasury sale and better terms for its cash tender offer.
Specific Terms Requested
Bastion wants SkyAI to raise the offer from $3 a share to at least $3.50 and increase pre-funded warrants eligible for purchase from 95% to 100%.
Additional Demands
Bastion also seeks disclosures on securities held by directors, executives, and related parties, including potential gains, and details of SkyAI's SOL sale, assets, liabilities, and offer basis.
The takeaway
SkyAI's 9.99% shareholder Bastion Trading wants the company to raise its cash tender offer from $3 to $3.50 per share and include 100% of pre-funded warrants.
