Forward Industries Proposes to Acquire SkyAI in All-Stock Deal

Forward Industries (NASDAQ: FWDI), a Solana-focused digital asset treasury company, recently disclosed that it submitted a non-binding proposal to acquire SkyAI in an all-stock business combination. The offer would have provided SkyAI shareholders with 0.367 newly issued Forward shares for each SKYA share, implying a value of approximately $1.55 per share and a 20% premium to SkyAI’s closing price before the proposal. However, Forward stated that SkyAI did not respond before the proposal expired on June 12, leaving the deal uncompleted.

Forward pursued this transaction because it believes SkyAI’s pivot toward artificial intelligence has not addressed its valuation discount. The company argues that a combination would give SkyAI shareholders exposure to its Solana-focused treasury strategy, enhanced liquidity, and a larger capital base. Forward claims to have built the world’s largest Solana treasury and asserts that its scale, balance sheet, and access to capital could unlock greater value for SkyAI shareholders than SkyAI could achieve independently.

Forward Industries is a digital asset treasury company that buys, holds, stakes, trades, and invests in SOL and related assets. Its mission is to expand the Solana ecosystem. The company launched its treasury strategy in September 2025 with support from investors like Galaxy Digital and Jump Crypto. For more details, the full press release is available at https://ibn.fm/mV42r. Investors can find the latest updates on FWDI in the company’s newsroom at https://ibn.fm/FWDI. This news was distributed by InvestorWire, a platform under the Dynamic Brand Portfolio @ IBN.