SkyAI Receives Forward Industries Offer at 0.367 Share Exchange Ratio
SKYA•SkyAI received an unsolicited non-binding merger proposal from Forward Industries offering 0.367 newly issued Forward common shares for each SkyAI share. The SkyAI Board has formed a special committee of independent directors to review and evaluate the proposal and recommend the best course of action.
1. Proposal Terms
Forward Industries proposed an all-stock business combination offering SkyAI shareholders 0.367 newly issued shares of Forward common stock for each share of SkyAI. This unsolicited, non-binding proposal aims to align both companies through share ownership without immediate cash consideration.
2. Board Response
SkyAI’s Board of Directors established a special committee of independent directors to review the proposal and determine whether it serves stockholder interests. This committee will evaluate strategic, financial, and regulatory implications before making a recommendation.
3. Shareholder Implications
SkyAI shareholders are not required to take any action currently while the proposal remains under review. The company will provide further updates only if legally required or upon committee recommendation.
