AcquisitionsJun 9, 2026, 04:31 PM

Forward Industries' $7.19/Share Offer for Brera Holdings Rejected

AI Summary

Forward Industries, Inc. announced it made an indicative, non-binding proposal on June 1, 2026, to acquire Brera Holdings PLC in an all-stock transaction. The offer proposed 1.54 newly-issued Forward Industries common shares for each Brera Holdings share, representing a premium of approximately 30.7% or $7.19 per share based on Brera's ten-day volume-weighted average closing price. Brera Holdings' board rejected the proposal on June 6, 2026, stating it was not in the company's best interest. Forward Industries respectfully disagrees, believing the proposal would create significant value for Brera's shareholders and hopes for further discussions. Forward is required by Irish Takeover Rules to announce a firm intention to make an offer or withdraw by July 21, 2026.

Key Highlights

Forward Industries proposed to acquire Brera Holdings PLC in an all-stock transaction.
Offer: 1.54 newly-issued FWDI shares for each SLMT share.
Proposal represented a 30.7% premium to SLMT's 10-day VWAP, valuing SLMT at $7.19 per share.
Brera Holdings PLC's board rejected the non-binding proposal on June 6, 2026.
Forward Industries expressed disappointment and believes the proposal is in SLMT shareholders' best interest.
Forward must announce a firm offer or withdrawal by July 21, 2026, 5:00 pm (New York Time).
Forward Industries had 73,753,241 common shares outstanding as of June 1, 2026.

View SEC Filing

FWDI

Plastic Products

Forward Industries, Inc.

Price Impact