Third Eye Supports Improved Tender Terms for SkyAI Shareholders

NEW YORK, Oct. 21, 2026 /CourierPR/ -- Third Eye, one of the largest shareholders of SkyAI, Inc. (Nasdaq: SKYA), has expressed strong support for Bastion Trading's October 21, 2026, call for improved tender offer terms for SkyAI shareholders and pre-funded warrant holders. The call comes as Third Eye believes the Board should revise the offer to return fair value to investors following the liquidation of the company's SOL treasury.

Third Eye has outlined three specific changes it believes should be made to the tender offer:

1. Increase the Tender Price to 100% of Net Asset Value: Third Eye calls for the tender price to be increased to 100% of the net asset value, rather than the approximately 0.95x mNAV (market net asset value) stated by the company. The firm believes that the tender price should reflect the full net asset value attributable to common shares and pre-funded warrants. SkyAI should publish an updated calculation clearly identifying its cash, liabilities, transaction expenses, and applicable security count, adjusted to reflect the cancellation of the strategic advisor warrants.

2. Secure Forfeiture of the Strategic Advisor Warrants and Distribute the Resulting Value Pro Rata to Investors: Third Eye advocates for the holders of the strategic advisor warrants to surrender those warrants for cancellation without payment. The company should exclude these warrants from the tender offer. The cash otherwise allocated to purchasing those warrants should be returned pro rata to existing common shareholders and pre-funded warrant holders, on a common-equivalent basis, through increased tender consideration or an equivalent distribution. The economic benefit of the cancellation should flow to those investors. Third Eye is willing to litigate this to the maximum extent if necessary to ensure fair treatment.

3. Expand the Tender Offer from 95% to 100% of Outstanding Common Shares and Pre-Funded Warrants: Third Eye supports expanding the tender offer to cover 100% of outstanding common shares and each class of pre-funded warrants, allowing investors who wish to exit to tender their entire position without proration caused by the current 95% cap. The company argues that investors should not be required to retain a residual stake after the treasury assets underlying their investment have been liquidated.

Third Eye's position is straightforward: return full net asset value, redirect the value allocated to strategic advisor warrants to existing investors, and provide a complete exit opportunity. The firm supports Bastion Trading's call for better tender economics and urges the Board to engage promptly with shareholders, amend the offer, and provide sufficient time for investors to evaluate the revised terms. Third Eye remains available for constructive discussions aimed at achieving a fair outcome for common shareholders and pre-funded warrant holders.

Third Eye also supports Bastion Trading's call for director accountability and intends to scrutinize the conduct of SkyAI's Chairman and directors in overseeing the SOL treasury liquidation, approving the tender offer, and determining the treatment of strategic advisor warrants. The Board should provide a transparent account of its decision-making, the independent oversight exercised, the handling of potential conflicts of interest, and any benefits received by insiders or related parties. Common shareholders and pre-funded warrant holders deserve a clear explanation of how their interests were protected.