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SkyAI plans to launch a $201 million tender offer and has rejected Forward Industries' acquisition proposal.

45 minutes ago

Solana-based treasury firm SkyAI (SKYA) announced plans to launch a cash tender offer to acquire up to 95% of its outstanding common shares and warrants at $3 per share. The offer covers up to approximately 46.4 million common shares and 20.7 million warrants, with a maximum total acquisition value of around $201 million. The company expects to fund the acquisition using its existing cash and proceeds from the sale of its Solana assets. SkyAI stated that the tender offer is scheduled to launch on Thursday, will run for 10 business days, though it may be extended or terminated early. Additionally, SkyAI’s board of directors has rejected a non-binding all-stock acquisition proposal from Forward Industries (FWDI). The proposal would have exchanged 0.306 Forward Industries shares for each SkyAI share, but the board deemed the exchange ratio undervalued the company.

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