SkyAI intends $3.00/share tender offer for up to 95% of shares and warrants, worth up to ~$201M

Sharps Technology Inc.

• SkyAI announced a cash tender offer at $3.00 per share for up to 95% of each class, including common stock and pre-funded/strategic advisor warrants, max aggregate ~$201M.
• Offer expected to begin on/about Oct 15, 2026, last 10 business days, and is conditioned on at least 50% of each class tendered and SOL staying above $100.
• Price represents a 65% premium to SkyAI's Oct 9, 2026 closing price and over 100% premium to its 60-day VWAP, per the press release.
• Board rejected Forward Industries' latest unsolicited proposal at an exchange ratio of 0.306 FWDI shares per SKYA share, saying it undervalues SkyAI.
• SkyAI retains ~600,000 SOL and ~80% of cash needed for the Offer, per 8-K; it suspended share repurchases until at least 10 business days after the Offer expires.