Forward Industries Proposes Acquisition of All Shares of SkyAI

Forward Industries announced on September 15, 2026, that it has proposed to the board of SkyAI, Inc. to acquire all of its issued and outstanding common stock. The proposal allows SkyAI shareholders to choose to receive cash and/or shares of Forward common stock, with each share of SkyAI convertible into the value of 0.306 shares of Forward stock at a fixed exchange ratio. Based on Forward's closing price of $6.95 on September 14, 2026, this proposal corresponds to a consideration of $2.13 per share of SkyAI, representing a 50% premium over SkyAI's closing price of $1.42 on that day. The transaction is intended to be executed through a merger or other tax-efficient combination. Ryan Navi, Chief Investment Officer of Forward Industries, stated that the updated offer reflects confidence in the value creation potential of the merger and requested that the SkyAI board respond by 5 PM Eastern Time on September 25, 2026. This proposal is non-binding and is subject to conditions including due diligence, final agreements, regulatory approvals, and approval by SkyAI shareholders, and there is no guarantee that the transaction will occur.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.