#USA #New York #SkyAI #Bastion Trading #Third Eye

Third Eye Backs Improvement of SkyAI Tender Offer by Bastion Trading

In a significant development for shareholders of SkyAI, Inc. (Nasdaq: SKYA), Third Eye, a key stakeholder in the company, has publicly expressed its support for Bastion Trading's initiative aimed at refining the tender offer terms to better serve common shareholders and pre-funded warrant holders. This strategic announcement was made on October 21, 2026, underscoring the growing concerns surrounding the current tender offer conditions.

Call for Change

Third Eye has laid out specific recommendations for the Board of SkyAI to consider, emphasizing the necessity of aligning the tender price with the full net asset value (NAV) of the company. Currently, the tender price is approximately 0.95 times the mNAV, which Third Eye argues undermines the true value of the company's assets. They propose that SkyAI publishes an updated NAV calculation that would provide a clearer picture of its cash, liabilities, transaction expenses, and security counts, factoring in the recently liquidated SOL treasury.

Their viewpoint champions the idea that once the treasury is liquidated, investors should receive their fair share of the net assets without enduring additional discounts.

Moreover, Third Eye is advocating for the cancellation of the strategic advisor warrants, pushing for the value from these warrants to be redistributed back to existing common shareholders and warrant holders. This redistribution could be executed through increased tender consideration or an equivalent distribution, thus enhancing the financial position of the investors.

Expanding Tender Offer

In addition to the aforementioned changes, Third Eye strongly recommends that the Board expands the tender offer from 95% to 100%. This modification would allow investors to liquidate their holdings entirely without proration, particularly beneficial in light of the completed treasury liquidation that has exposed the true market value of their investments. Third Eye emphasizes that investors should not be compelled to maintain a residual stake after the liquidation, as it impairs their control and decision-making regarding their investments. Furthermore, they emphasize the importance of returning the full NAV and creating amicable resolutions to the current discrepancies.

Maintaining Accountability

In conjunction with its push for improved tender terms, Third Eye is committed to scrutinizing the actions of SkyAI’s directors and Chairman related to the management of the SOL treasury liquidation, including the transparency surrounding the tender offer and any potential conflicts of interest linked to the strategic advisor warrants. They assert that shareholders deserve a comprehensive account detailing how the Board's decisions have safeguarded their investments. This commitment to transparency represents a broader effort to hold the company's leadership accountable while encouraging constructive dialogue with the Board.

About Third Eye

Third Eye is a New York and Dubai-based investment firm known for its strategic trading in crypto assets and public equities, focusing on special situations, including bankruptcy claims, distressed assets, and other opportunities within the digital asset landscape. Their advocacy for SkyAI shareholders not only highlights their investment philosophy but also their dedication to fostering shareholder value and corporate governance.

For more insights or inquiries regarding this initiative or their investment strategy, interested parties can visit their official site at www.third-eye.co.

As this story develops, investors, analysts, and industry observers are encouraged to monitor the unfolding dynamics between Third Eye, Bastion Trading, and SkyAI, as the calls for improved shareholder returns gain traction.