Forward Industries Inc. (NASDAQ: FWDI) Requests SkyAI Shareholders to Vote No on SkyAI’s 2026 Equity Incentive Plan at Upcoming Annual Meeting

• Forward Industries has released an open letter to shareholders of SkyAI, urging them to vote against SkyAI’s 2026 Equity Incentive Plan at SkyAI’s annual meeting.
• This follows the Board of SkyAI rejecting a proposal from Forward to acquire the company, which would have been an opportunity for shareholders to realize a 20% premium.
• In addition to highlighting this rejected opportunity for shareholders, the letter also mentions SkyAI’s mounting losses and underperformance relative to its peers.

Forward Industries (NASDAQ: FWDI), a Solana (SOL) treasury company, just released an open letter to shareholders of SkyAI outlining its concerns and announcing that it urges shareholders to vote against SkyAI’s 2026 Equity Incentive Plan and withhold on each of SkyAI’s five director nominees at SkyAI’s annual meeting of shareholders that’s scheduled for Sept. 18 (https://ibn.fm/DJora).

In the letter, Forward said it believes in the value opportunity at SkyAI and that a combination between the two could unlock value for the shareholders of both companies. It also outlined the proposal it submitted to acquire SkyAI in an all-stock transaction, which was a proposal that valued SkyAI at $1.55 per share, which was a 20% premium on its closing price prior to the…

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NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI

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