SkyAI Rejects Forward Industries Bid, Plans $3 Tender Offer
The offer covers up to 46.37 million shares and 20.72 million warrants, with a maximum aggregate purchase price of about $201 million. SkyAI plans to fund it with cash and Solana sales. Completion requires at least 50% participation in each security class and SOL remaining above $100. The $3 offer is a 65% premium to the Oct. 9 close and more than 100% above the 60-day VWAP; shares rose 21.7% premarket.
00 tender price represents a 65% premium to Oct. 9 close and over 100% premium to 60-day VWAP. 72M warrants, for a maximum aggregate purchase price of ~$201M. · SkyAI plans to fund the tender with cash and Solana sales; completion requires at least 50% participation in each security class and SOL remaining above $100.