Forward Industries Proposes Stock-for-Stock Merger with Solana Company; Board Rejects Offer on June 12

According to Foresight News, Forward Industries proposed a stock-for-stock merger with Solana Company on June 12, offering 0.386 shares of Forward common stock per HSDT share, representing approximately 10% premium to the prior close price of $1.48. Solana Company's board voted to reject the proposal and declined further discussion. Under the offer terms, the exchange would value each HSDT share at approximately $1.63.
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