$FWDI

Cantor Fitzgerald Initiates Forward Industries at Overweight With $7.90 Price Target

Solana Company Rejects Unsolicited Acquisition Offer From Forward Industries

Solana Company (HSDT) has rejected a non-binding acquisition offer from Forward Industries (FWDI), valued at $1.48 per share, the company said Tuesday.The company said its board unanimously determined that the all-stock business combination deal substantially undervalued Solana Company and was not in the best interests of the company and its stockholders.Shares of Forward Industries were 2% lower in Tuesday premarket trading, and Solana Company shares were nearly 1% lower.

Forward Industries Offers to Acquire Solana, SkyAI; Solana Declines, No Response From SkyAI

Forward Industries (FWDI) said Monday it sent business combination proposals to Solana (HSDT) and SkyAI (SKYA), but Solana's board declined while SkyAI did not respond.Under its proposal to Solana, Forward said Solana stockholders would receive 0.386 newly issued shares of Forward common stock for each Solana share. Solana said on June 12 its board voted to decline and not engage in further talks, according to Forward.In its proposal to SkyAI, Forward offered to issue 0.367 shares for each SkyAI share. SkyAI's board did not respond by its June 12 expiration, Forward said.Solana and SkyAI did not immediately reply to a request for comment from.Shares of Forward were up more than 8% in Monday trading, and Solana and SkyAI shares added 14% and 11%, respectively.Price: $4.63, Change: $+0.35, Percent Change: +8.18%

B. Riley Initiates Forward Industries at Buy With $7 Price Target

B. Riley Initiates Forward Industries at Buy With $7 Price Target