SkyAI Receives Unsolicited All-Stock Merger Proposal From Forward Industries

MT Newswires Live

06/16

SkyAI (SKYA) said it received an unsolicited, nonbinding all-stock merger proposal from Forward Industries (FWDI).

Under the proposal, SkyAI shareholders would receive 0.367 newly issued Forward common shares for each SkyAI share.

SkyAI said Monday its board formed a special committee of independent directors to evaluate the proposal and make a recommendation on the transaction.

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