SkyAI Confirms Receipt of Unsolicited, Non-Binding Proposal from Forward Industries
Rhea-AI Summary
SkyAI (NASDAQ:SKYA) confirmed it has received an unsolicited, non-binding proposal from Forward Industries for a potential all-stock business combination. The proposal offers 0.367 Forward shares for each SkyAI share. A special committee of independent directors will evaluate the proposal. SkyAI states shareholders need not take any action now and it does not plan to provide further updates unless required by law.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Positive
- None.
Negative
- None.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 06 | Year-end results & treasury | Positive | +48.6% | Reported large Solana treasury, asset growth, and capital raised. |
| Feb 25 | Crypto partnership | Positive | -0.9% | Collaboration with The Tie to expand institutional Solana participation. |
| Feb 05 | Custody collaboration | Positive | +1.9% | BitGo collaboration to institutionalize Solana treasury custody and staking. |
| Jan 26 | Staking income update | Positive | -2.0% | Update on 7% gross APY, no corporate debt, and validator launch. |
| Jan 16 | Advisor lock-up | Positive | -1.3% | Advisor warrant lock-up aligned with recently approved buyback program. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news tied to the Solana treasury and crypto strategy produced mixed reactions, with both strong rallies and modest pullbacks.
Over the last six months, the company’s narrative has centered on a Solana-focused digital asset treasury. Year-end 2025 results highlighted over 2 million SOL, total assets of $269.1M, and more than $430M raised, which coincided with a 48.64% move. Other updates on staking income, validator partnerships, and collaborations with The Tie and BitGo produced smaller, mixed price reactions, while a January $100M buyback-linked lock-up saw a slight decline, underscoring inconsistent responses to otherwise constructive headlines.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, June 15, 2026 (GLOBE NEWSWIRE) -- SkyAI, Inc. (NASDAQ: “SKYA”) (“SkyAI” or the “Company”), a financial technology company building agentic finance for the Global South, today confirmed receipt of an unsolicited, non-binding proposal from Forward Industries, Inc. (“Forward”) regarding a potential all-stock business combination. Under the terms of the proposal, SkyAI stockholders would receive 0.367 newly issued shares of Forward common stock for each share of SkyAI common stock.
Consistent with its fiduciary duties, SkyAI’s Board of Directors has established a special committee of independent directors to review and evaluate the proposal and make a recommendation to the Board of Directors regarding the course of action that it believes is in the best interests of SkyAI and its stockholders.
The Company does not undertake any obligation to provide any updates with respect to this or any other proposal or transaction, except as required under applicable law.
SkyAI shareholders do not need to take any action at this time.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this release other than statements of historical fact are forward-looking statements, including statements regarding the Company’s strategy and product roadmap and the potential opportunities such initiatives may create. Forward-looking statements are based on current expectations, assumptions, and beliefs, and involve risks and uncertainties that could cause actual results to differ materially.
These risks and uncertainties include, among others: the Company’s ability to successfully execute its AI technology strategy; and general market, economic, and business conditions. Additional risks are described in the “Risk Factors” section of the Company’s filings with the Securities and Exchange Commission (the “SEC”), which are available on the SEC’s website at www.sec.gov.
Forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise these statements, whether as a result of new information, future developments, or otherwise, except as required by law.
About SkyAI
SkyAI, Inc. (Nasdaq: SKYA), formerly Sharps Technology, Inc., is building Agentic Finance for the Global South that will combine stablecoin rails with AI to deliver financial access, education, and actionable intelligence to the billions of underbanked users across Asia, Latin America, and Africa. For additional information, please visit www.theskyai.co.
Media Contact
Edelman Smithfield
SkyAI@edelmansmithfield.com
