SkyAI Sells $54M SOL to Fund $201M Shareholder Buyback
SkyAI plans to repurchase up to 95% of its shares and warrants using proceeds from selling half of its Solana holdings.
SkyAI plans to repurchase up to 95% of its shares and warrants using proceeds from selling half of its Solana holdings. Solana (SOL) is trading at $107.85, down 1.1% since this brief published. This is an original Token Times brief synthesising 2 outlets (Cryptopolitan, Crypto.news), with their figures cross-checked, plus live market data, as of Mon, 12 Oct 2026 17:00:01 UTC.
This move represents a strategic financial maneuver by SkyAI to maintain independence by repelling a takeover bid from Forward Industries. It also highlights the growing trend of crypto companies leveraging their digital asset holdings for traditional financial operations.
- SkyAI to repurchase up to 95% of shares and warrants at $3.00 each.
- Company selling 1 million SOL, half of its crypto reserves, to fund the $201M buyback.
- Move aims to counter Forward Industries' takeover attempt.
- SOL price down 2.53% in 24 hours amid broader market decline.
Cryptopolitan and Crypto.news both report that SkyAI plans to execute a $201 million share buyback funded by selling half of its Solana holdings, approximately 1 million SOL. They agree on the $3.00 per share buyback price and the company's intention to repurchase up to 95% of its outstanding shares and warrants. However, Crypto.news provides the specific quantity of SOL being sold, which is not detailed in Cryptopolitan's coverage.
SkyAI, a company with significant 
Solana holdings, has announced a strategic financial move to repurchase up to 95% of its shares and warrants. The company plans to execute a cash tender offer worth up to $201 million, with the buyback price set at $3.00 per share.
To fund this substantial buyback, SkyAI intends to sell approximately 1 million SOL, which constitutes half of its cryptocurrency reserves. This decision comes as the company seeks to maintain its independence and fend off a takeover bid from Forward Industries.
The move is significant as it demonstrates how crypto companies are increasingly using their digital asset holdings to support traditional financial operations. The sale of such a large quantity of SOL could also impact the cryptocurrency's market dynamics.
Market data shows that Solana (SOL) is currently priced at $109, having dropped 2.53% in the past 24 hours and 8.92% over the last week. The broader crypto market is also experiencing a downturn, with 
Bitcoin down 1.12% in the same period and the overall market cap at $2.87 trillion.
The Forward Industries' takeover attempt adds another layer of complexity to this situation. The company's Total Value Locked (TVL) stands at $239.72 million, having decreased by 8.3% over the past week, according to DeFiLlama. The circulating supply of CASH is $126.45 million.
Since this brief published about 2 hours ago, Solana (SOL) has moved from $109.00 to $107.85 — -1.06%.
The chart plots SOL's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 SOL ≈ ₹11,135.51 (about $107.85), down 3.9% over 24 hours. The rupee itself trades about 6.5% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
Figures and sectors in this story, checked live against on-chain aggregators · October 12, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
SkyAI Sells $54M SOL to Fund $201M Shareholder Buyback — questions & answers
How much SOL is SkyAI selling to fund the buyback?
SkyAI is selling approximately 1 million SOL, which is half of its cryptocurrency reserves.
What is the total value of the share buyback?
The total value of the share buyback is $201 million.
Why is SkyAI conducting the buyback?
The buyback is intended to counter a takeover bid from Forward Industries and maintain the company's independence.
How much is 1 Solana worth in rupee today?
About ₹11,135.51 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $107.85. The rupee price moves with both SOL's US-dollar price and the USDT/INR rate; use our Solana in rupee page for any amount.
Has Solana's price moved since this brief was published?
SOL is down 1.06% since this brief first published — trading at $107.85 now versus $109.00 at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Cryptopolitan, Crypto.news, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.