UPDATED: Forward Industries Announces Letter of Intent to Acquire SkyAI, Inc. (SKYA)

On June 15, 2026, Forward Industries, Inc. (NASDAQ: FWDI) disclosed a non-binding offer to acquire SkyAI, Inc. This proposition involves an all-stock merger in which SKYA shareholders would get 0.367 newly-issued shares of Forward common stock for each SKYA common stock, giving a 20% premium to SKYA’s stock price of $1.29, valuing it at $1.55 per share. Despite the proposal expiring on June 12, 2026, with no response from SKYA, Forward expressed disappointment and emphasized the benefits of engaging in discussions for both companies and their shareholders.