Forward Industries Makes Updated Non-Binding Proposal to Acquire SkyAI

10:03 AM EDT, 09/15/2026 (MT Newswires) -- Forward Industries (FWDI) said Tuesday that it has made an updated non-binding proposal to acquire SkyAI (SKYA) under a deal it said implies consideration of $2.13 per SkyAI share, representing a 50% premium to SkyAI's Sept. 14 closing price. Under the proposal, SkyAI stockholders would receive cash and/or shares of Forward Industries at the holder's choice. The company said each SkyAI share would be converted into the value of 0.306 Forward shares, a fixed exchange ratio that would not adjust for changes in the trading price of either company's common stock. Forward requested a response from SkyAI's board on Sept. 25. The proposal remains subject to due diligence, a definitive agreement, regulatory approvals and SkyAI stockholder approval. Shares of SkyAI were down 6.3%, while shares of Forward Industries were down 4.6%. Price: 6.58, Change: -0.37, Percent Change: -5.32