Forward Industries Announces Letter of Intent to Acquire SkyAI, Inc. (SKYA)
Forward Industries (FWDI) announced a non-binding proposal to acquire SkyAI (SKYA) in an all-stock transaction. The offer proposes SKYA shareholders receive 0.367 shares of FWDI for each share of SKYA, implying a price of $1.55 per share and a 20% premium to SKYA’s $1.29 closing price. SkyAI did not respond to the proposal by its June 12 expiration date.
Key figures
- Deal Value Usd
- 0
- Offering Price
- 0
- Shares Offered
- 0
- Premium pct
- 20%
- Exchange ratio
- 0.367
- Target prior close
- 1.29
- Implied price per share
- 1.55
AI analysis
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