Forward Industries makes second bid for Solana treasury firm SkyAI

Forward Industries, described by The Block as the largest corporate holder of Solana, has made a second takeover offer for fellow Solana treasury company SkyAI, formerly Sharp Technology, offering cash and stock worth $2.13 per share, a 50% premium to Friday’s close, according to The Block. The stock exchange ratio was cut to 0.306 FWDI from 0.367 FWDI in the first proposal in June. The Block said the revision reflects valuation changes between the two companies after SKYA shares rose 9% while FWDI shares jumped 42% following the initial offer.