Forward Industries Revises SkyAI Bid to $2.13/Share, 50% Premium
SKYA sits 48% above its 52-week low of $0.91.
Summary
Forward Industries has submitted a revised non-binding offer to acquire SkyAI, proposing 0.306 Forward shares per SkyAI share with an optional cash election, implying $2.13 per SkyAI share—a 50% premium to Monday's close. This follows Forward's earlier 0.367 ratio offer that expired in June and its recent campaign urging SkyAI shareholders to vote against the equity plan and withhold director votes. The updated terms come as SkyAI defends its standalone strategy and Solana treasury, with a shareholder meeting later this week. Forward has set a response deadline of Sept. 25, 2026. The market reaction—Forward shares down 9%—reflects dilution concerns from the all-stock structure, while SkyAI shareholders face a materially improved premium. Watch for SkyAI's board response and the upcoming shareholder vote.
At the time of this announcement, SKYA was trading at $1.35 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $58.4M. The 52-week trading range was $0.91 to $9.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.