Forward Industries Announces Failed Acquisition Proposals for SkyAI and Solana Company

Forward Industries filed an 8-K on June 15, 2026, disclosing that it made two non-binding acquisition proposals that were rejected. The company proposed to acquire SkyAI, Inc. (SKYA) in an all-stock transaction offering a 20% premium, but SKYA did not respond by the June 12 deadline. Separately, Forward Industries proposed to acquire Solana Company (HSDT) with a 10% premium, but HSDT's board voted to decline the offer and refused further discussions. Both proposals were part of Forward Industries' strategy to become the "Berkshire Hathaway of Solana" by expanding its digital asset treasury platform. The company expressed disappointment at both rejections, believing the combinations would have benefited shareholders and advanced the Solana ecosystem.