Bastion Trading Challenges SkyAI’s Proposed Tender Offer, Demands Immediate and Full Disclosure of SOL Sales and Board Reconstitution
Globe Newswire•14/10/2026•08:59 ET
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Key Highlights
- ➤SOL holdings fell to approximately 600,000, implying roughly 70% disposed in under one month
- ➤Bastion demands an independent review of SOL disposals and full transaction disclosure
- ➤All five incumbent directors received substantially more WITHHOLD votes than votes in favor
- ➤Bastion demands tender price increase from $3.00 to at least $3.50 per share or eligible warrant
- ➤Bastion will not participate unless terms, disclosure, and independent oversight concerns are addressed
Questions Legitimacy of Incumbent Board Following Overwhelming Stockholder Withhold Vote; Calls for Independent Oversight and Materially Improved Tender Offer Terms
Announces that Bastion Trading Will Not Participate in the Proposed Tender Offer Unless Its Concerns Are Satisfactorily Addressed
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