Forward Industries Increases Takeover Offer for SkyAI by 50%
Forward Industries (NASDAQ: FWDI) has raised its non-binding takeover offer for SkyAI (NASDAQ: SKYA), proposing a deal that values each SkyAI share at $2.13, representing a 50% premium over the company's latest closing price of $1.42. The revised bid allows shareholders to receive either cash, Forward shares, or both and remains subject to regulatory approvals and shareholder approval by September 25. SkyAI had previously rejected an earlier all-stock proposal from Forward Industries, stating it was not in its shareholders' best interests and reaffirming its independence strategy tied to Solana (CRYPTO: SOL) treasury holdings. SkyAI reported over $12 million in staking revenue through June 30 and a strong validator yield performance. The renewed offer comes ahead of SkyAI's annual meeting on September 18, where shareholders will vote on director nominees and an equity plan. Forward has urged investors to withhold support from the current board slate.
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