ChainThink report, October 14: NASDAQ-listed SkyAI has sold 1 million SOL tokens, equivalent to approximately $107 million, and indicated it may continue further sales.

On-chain data shows SkyAI’s average acquisition price for SOL was around $194; based on recent market prices, the estimated loss exceeds $160 million. SkyAI previously held over 2 million SOL tokens.

Form 8-K filed on October 13 reveals the company's current holdings are approximately 600,000 SOL, representing a reduction of about 70% compared to the position disclosed in mid-September.

Since October, the company has transferred out approximately 1.57 million SOL, valued at roughly $175 million.

Bastion Trading, a major shareholder holding approximately 9.99% of SkyAI’s outstanding common shares, expressed serious concerns regarding the company’s cash tender offer and stated it will not participate until the issues are adequately addressed.

The shareholder demands disclosure of SOL disposal details, initiation of an independent review, board restructuring, and an increase in the tender price from $3 per share to at least $3.50 per share.