[SkyAI Proposes $201 Million Tender Offer and Rejects Forward Industries' Acquisition Proposal] According to Golden Finance, on October 12, Solana treasury company SkyAI (SKYA) announced plans to initiate a cash tender offer to acquire up to 95% of its outstanding common shares and warrants at $3 per share. This involves up to approximately 46.4 million common shares and about 20.7 million warrants, with a maximum total amount of approximately $201 million. The company plans to use existing cash and proceeds from the sale of its Solana assets to fund the purchase. The tender offer is expected to launch on Thursday and last for 10 business days, though it may be extended or terminated early. In addition, the SkyAI board of directors has rejected a non-binding all-stock acquisition proposal from Forward Industries (FWDI), which proposed exchanging 0.306 shares of Forward Industries stock for each SkyAI share. The board believes the proposal undervalues the company.