SkyAI's major shareholder questions board oversight failure, demands explanation for SOL liquidation and revised buyback plan

On October 21, citing Globenewswire, Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI (Nasdaq: SKYA), issued a statement demanding that Executive Chairman Paul K. Danner III and several directors publicly explain the decision-making process behind liquidating the company's entire SOL reserves and approving a cash tender offer. Bastion Trading is demanding that the tender offer price be raised from $3 per share to at least $3.50, and that the maximum acquisition ratio for pre-funded warrants be increased from 95% to 100%. It also demands that strategic advisor warrants be excluded from the acquisition scope, that securities held by directors, executives and related parties and their potential gains be disclosed, and that information on the SOL sale transaction, the company's assets and liabilities, and the basis for the tender offer pricing be made public.