Forward Industries disclosed that Solana Company (HSDT), formerly Helius Medical Technologies, turned down an all‑stock acquisition offer, rejecting a valuation of $1.63 per share.
Rejected Proposals and Their Terms
On June 12, HSDT’s board voted against Forward’s proposal, which would have exchanged 0.386 newly issued Forward shares for each HSDT share. The deal would have priced HSDT at $1.63 per share, a valuation the board deemed insufficient. Forward’s press release expressed disappointment over the lack of dialogue from HSDT’s directors.
SkyAI also ignored a similar offer that placed a $1.55 per‑share value