SkyAI Sells All Solana Holdings, Launches $201M Buyback
The former Sharps Technology has liquidated its Solana treasury and offered to repurchase shares and warrants as crypto treasury economics come under pressure.
AfroEuropa Newsroom
AfroEuropa desk
SkyAI, the company formerly known as Sharps Technology, has sold off its entire holding of Solana (SOL) and begun a $201.3 million buyback of its shares and warrants, according to reporting from BitKE and Cointelegraph.
The firm, previously a medical device maker, held $223.8 million in cash as of October 16 2026, based on a regulatory filing. Under the tender offer, shareholders and warrant holders can sell their securities back to the company at $3 each, with the plan targeting up to 95% of outstanding securities. BitKE reported that the offer values the securities at roughly 0.95 times the company's net asset value, calculated on its cash position.
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