AcquisitionsJun 15, 2026, 09:20 PM
Forward Industries' All-Stock Proposal for SkyAI Rejected
AI Summary
Forward Industries, Inc. confirmed it made a non-binding all-stock proposal to acquire SkyAI, Inc. for 0.367 shares of Forward common stock per SKYA share, representing a 20% premium or $1.55 per share. SkyAI did not respond to the proposal by its expiration on June 12, 2026. Forward Industries expressed disappointment, emphasizing the strategic benefits for SKYA shareholders, including exposure to its leading Solana treasury platform and a better-capitalized entity.
Key Highlights
- Forward Industries proposed an all-stock acquisition of SkyAI, Inc.
- Offer was 0.367 shares of Forward common stock for each SkyAI share.
- Proposal represented a 20% premium or $1.55 per share to SkyAI's closing price of $1.29.
- SkyAI did not respond to the proposal by its expiration on June 12, 2026.
- Forward Industries expressed disappointment and believes the combination is in SkyAI shareholders' best interest.
- Forward Industries aims to be the "Berkshire Hathaway of Solana" with the world's largest Solana treasury.
Price Impact
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