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Forward Industries raises acquisition offer for Solana treasury company SkyAI by 50% to approximately $2.13 per share.
Forward Industries (Nasdaq: FWDI) has made a new non-binding acquisition offer for SkyAI (Nasdaq: SKYA), valuing the Solana (CRYPTO: SOL) treasury company at a 50% premium to its latest closing price. Under the new terms, SkyAI shareholders would receive the value of 0.306 shares of Forward Industries stock for each share, with an option for cash, Forward stock, or a combination of both. Based on Forward's closing price of $6.95 on Monday, the proposal values each SkyAI share at approximately $2.13, compared to SkyAI's Monday closing price of $1.42. Forward has requested a response from SkyAI's board by September 25. SkyAI had previously rejected Forward's offer and reiterated its independent plans, emphasizing its holdings of over 2 million SOL and no outstanding debt. Forward's stock fell 4.6% today to $6.63, while SkyAI's stock dropped over 8% to $1.30.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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