Forward Industries' Bid for SkyAI Expires After No Response

Dow Jones

Jun 15

By Adriano Marchese

Forward Industries said its offer to buy SkyAI in an all-stock deal expired after the company failed to respond.

Forward shares were up 8.2% to $4.63 in morning trading, while SkyAI rose 11% to $1.24.

The digital-asset holding company, which was built around the Solana blockchain platform, said Monday that its nonbinding proposal to buy SkyAI, which offer to pay 0.367 newly issued Forward shares for each SkyAI share, expired Friday. Solana is a high-speed blockchain network used for digital-asset transactions and decentralized applications.

The offer represented a 20% premium to SkyAI's closing price of $1.29 on the day prior to the proposal, or roughly $1.55 a share, Forward said.

SkyAI recently shifted its strategy toward artificial-intelligence products, a move that Forward said has weighed on the company's valuation.

"We are disappointed and surprised by the lack of response from the SKYA team," Forward said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

June 15, 2026 09:47 ET (13:47 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

At the request of the copyright holder, you need to log in to view this content

LOGIN / SIGN UP

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers HK | Online Trading in stocks, bonds & ETFS","description":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","keywords":"tiger trading,tiger security,tiger broker hk,tigers co ltd,tiger trade hk,tiger brokers hk,stock broker,securities broker,online brokerage,hong kong broker,hk broker,online stock trading,online trading platform,stock trading platforms,trading application,stock trading,stock trading hong kong,buying stocks in hong kong,tiger brokers","social":{"ogDescription":"Discover Tiger Brokers HK, an online trading platform for stocks&ETFs, options&futures, bonds and crypto. Open an account to enjoy low commission trading today!","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.0a0bd8dc.png","ogUrl":"https://www.gotigerhk.com/news/2643209977"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"HKG","license":"TBHK","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2643209977\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2643209977?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-06-15 21:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2643209977","market":"us","top_or_hot":-1,"title":"Forward Industries' Bid for SkyAI Expires After No Response","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Adriano Marchese \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Forward Industries said its offer to buy SkyAI in an all-stock deal expired after the company failed to respond. \n</p>\n<p>\n  Forward shares were up 8.2% to $4.63 in morning trading, while SkyAI rose 11% to $1.24. \n</p>\n<p>\n  The digital-asset holding company, which was built around the <a href=\"https://laohu8.com/S/HSDT\">Solana</a> blockchain platform, said Monday that its nonbinding proposal to buy SkyAI, which offer to pay 0.367 newly issued Forward shares for each SkyAI share, expired Friday. Solana is a high-speed blockchain network used for digital-asset transactions and decentralized applications. \n</p>\n<p>\n  The offer represented a 20% premium to SkyAI's closing price of $1.29 on the day prior to the proposal, or roughly $1.55 a share, Forward said. \n</p>\n<p>\n   SkyAI recently shifted its strategy toward artificial-intelligence products, a move that Forward said has weighed on the company's valuation. \n</p>\n<p>\n  \"We are disappointed and surprised by the lack of response from the SKYA team,\" Forward said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 15, 2026 09:47 ET (13:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Forward Industries' Bid for SkyAI Expires After No Response</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nForward Industries' Bid for SkyAI Expires After No Response\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-15 21:47</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Adriano Marchese \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Forward Industries said its offer to buy SkyAI in an all-stock deal expired after the company failed to respond. \n</p>\n<p>\n  Forward shares were up 8.2% to $4.63 in morning trading, while SkyAI rose 11% to $1.24. \n</p>\n<p>\n  The digital-asset holding company, which was built around the <a href=\"https://laohu8.com/S/HSDT\">Solana</a> blockchain platform, said Monday that its nonbinding proposal to buy SkyAI, which offer to pay 0.367 newly issued Forward shares for each SkyAI share, expired Friday. Solana is a high-speed blockchain network used for digital-asset transactions and decentralized applications. \n</p>\n<p>\n  The offer represented a 20% premium to SkyAI's closing price of $1.29 on the day prior to the proposal, or roughly $1.55 a share, Forward said. \n</p>\n<p>\n   SkyAI recently shifted its strategy toward artificial-intelligence products, a move that Forward said has weighed on the company's valuation. \n</p>\n<p>\n  \"We are disappointed and surprised by the lack of response from the SKYA team,\" Forward said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 15, 2026 09:47 ET (13:47 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4145","symbol_name":"电子制造服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2643209977","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2643209977","pubTimestamp":1781531220,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Forward Industries said its offer to buy SkyAI in an all-stock deal expired after the company failed to respond.Forward shares were up 8.2% to $4.63 in morning trading, while SkyAI rose 11% to $1.24.The digital-asset holding company, which was built around the Solana blockchain platform, said Monday that its nonbinding proposal to buy SkyAI, which offer to pay 0.367 newly issued Forward shares for each SkyAI share, expired Friday. Solana is a high-speed blockchain network used for digital-asset transactions and decentralized applications.The offer represented a 20% premium to SkyAI's closing price of $1.29 on the day prior to the proposal, or roughly $1.55 a share, Forward said.SkyAI recently shifted its strategy toward artificial-intelligence products, a move that Forward said has weighed on the company's valuation.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4145":"电子制造服务","BK4198":"医疗保健用品","SKYA":"SkyAI, Inc.","FWDI":"Madrona Forward International ET"},"translate_title":"Forward Industries对SkyAI的收购因无回应而到期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SKYA":0.9,"FWDI":0.9},"content_text":"By Adriano Marchese \n\n\n \n\n\n  Forward Industries said its offer to buy SkyAI in an all-stock deal expired after the company failed to respond. \n\n\n  Forward shares were up 8.2% to $4.63 in morning trading, while SkyAI rose 11% to $1.24. \n\n\n  The digital-asset holding company, which was built around the Solana blockchain platform, said Monday that its nonbinding proposal to buy SkyAI, which offer to pay 0.367 newly issued Forward shares for each SkyAI share, expired Friday. Solana is a high-speed blockchain network used for digital-asset transactions and decentralized applications. \n\n\n  The offer represented a 20% premium to SkyAI's closing price of $1.29 on the day prior to the proposal, or roughly $1.55 a share, Forward said. \n\n\n   SkyAI recently shifted its strategy toward artificial-intelligence products, a move that Forward said has weighed on the company's valuation. \n\n\n  \"We are disappointed and surprised by the lack of response from the SKYA team,\" Forward said. \n\n\n \n\n\n  Write to Adriano Marchese at adriano.marchese@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 15, 2026 09:47 ET (13:47 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}