Bastion Trading to Tender All of Its Shares, Pre-Funded Warrants and Stapled Warrants into SkyAI’s Amended Cash Tender Offer
Bastion Trading Supports SkyAI’s Extension of the Offer to All Pre-Funded Warrants and Stapled Warrants
NEW YORK, Oct. 27, 2026 (GLOBE NEWSWIRE) — Bastion Trading Limited and certain of its affiliates (together, “Bastion Trading”), a holder of 4,649,745 Shares of Common Stock, 4,234,615 Cash Pre-Funded Warrants and 5,384,615 Cash Stapled Warrants of SkyAI, Inc. (Nasdaq: SKYA) (“SkyAI” or the “Company”), today announced that it has entered into a tender support and settlement agreement (the “Agreement”) with the Company.
Under the Agreement, SkyAI has agreed to amend its cash tender offer (the “Offer”) to provide for among other items the tender of 100% of the outstanding pre-funded warrants and to extend the Offer to include the stapled warrants. In connection with these amendments, Bastion Trading has agreed to tender all of its shares of common stock, pre-funded warrants and stapled warrants.
Ningxiang Zhang, Chief Executive Officer of Bastion Trading, said: “We appreciate the constructive engagement with SkyAI’s Board and management. We are pleased that the Company has agreed to meaningful amendments to the Offer, which we believe represents a fair and balanced outcome. This agreement gives Bastion Trading a clear and orderly exit, and we support the Company’s decision to extend the Offer to all pre-funded warrants and the stapled warrants at a combined 1x mNAV.”
“The Company is pleased to reach an agreement with Bastion Trading which is extended to all shareholders and warrantholders equally,” Paul Danner, Executive Chairman of SkyAI, said “By expanding the Offer, we are providing all holders of our pre-funded warrants and stapled warrants with equal terms for liquidity in a timely fashion.”
About Bastion Trading
Bastion Trading is a proprietary trading firm founded by experienced investment professionals. The firm invests its own capital across global financial markets, leveraging deep market expertise, quantitative strategies and proprietary technology to identify opportunities and manage risk.
Contacts
Olshan Frome Wolosky LLP
Andrew Freedman / Rebecca Van Derlaske
AFreedman@olshanlaw.com/ RVanDerlaske@olshanlaw.com
Quinn Emanuel Urquhart & Sullivan, LLP
Jianjian Ye
jianjianye@quinnemanuel.com
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