SkyAI Reaches Settlement with Bastion Trading, Confirms No Further SOL Buybacks

SkyAI has reached a settlement with its major shareholder, Bastion Trading, which now supports SkyAI's buyback plan at $3 per share. SkyAI confirms that it has sold all 2 million SOL at an average price of $107 and will not repurchase SOL after the stock buyback. Previously, on October 19, SkyAI had liquidated its SOL holdings and currently holds $223.8 million in cash. On October 21, Bastion Trading questioned the board's oversight failures, demanding an explanation for the liquidation of SOL and a revision of the buyback plan.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.