UPDATED: Forward Industries Announces Letter of Intent to Acquire Solana Company (HSDT)
Forward Industries confirmed that its non-binding, all-stock proposal to acquire Solana Company (HSDT) was declined by the HSDT board on June 12. The proposal offered an exchange ratio of 0.386 shares of Forward for each share of HSDT, representing a 10% premium to HSDT's prior close of $1.48.
Key figures
- Premium
- ~10%
- Exchange ratio
- 0.386
- Target prior close
- $1.48
- Offer price per share
- $1.63
AI analysis
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