[SCHEDULE 13D] Forian Inc. SEC Filing

Rhea-AI Filing Summary

Consortium delivers non-binding going-private proposal for Forian Inc. A group of related investors led by Max C. Wygod and other reporting persons delivered an Offer Letter to Forian's board proposing to acquire all outstanding common stock not owned by the Consortium in a going-private transaction. The members executed a Consortium Agreement dated August 25, 2025, to govern cooperation; copies are filed as Exhibits 99.1 and 99.2. The filing reports individual beneficial ownership stakes, including Max C. Wygod (14.7%), Anthony Vuolo (12.9%), and other consortium-affiliated trusts and persons, calculated on 31,112,312 outstanding shares. The Offer Letter is non-binding, any transaction would require special committee approval and definitive documentation, financing sources are not finalized, and consummation would terminate Forian's Nasdaq registration if completed.

Insights

Financial Analyst

TL;DR: A sizable investor consortium submitted a non-binding going-private proposal and formed a consortium agreement; outcome depends on negotiations and financing.

The Schedule 13D discloses coordinated action by multiple related investors and funds to pursue a going-private offer for Forian Inc. The document is explicit that the Offer Letter is non-binding and conditional on special committee approval and definitive agreements. Reported beneficial holdings are material relative to the 31,112,312-share base used for calculations, with several reporting persons holding double-digit percentages individually or via trusts. Key near-term variables are negotiation progress, definitive documentation, and finalized financing; none are finalized in this filing.

M&A Specialist

TL;DR: Formation of a formal consortium and a delivered Offer Letter signal a coordinated acquisition effort that could materially alter shareholder liquidity if completed.

The filing confirms a signed Consortium Agreement and a delivered Offer Letter (Exhibits 99.1 and 99.2), both core M&A milestones for a negotiated transaction. Significant aggregate holdings among consortium members are disclosed and could facilitate a negotiated outcome, but the absence of definitive terms and finalized financing keeps the proposal conditional. If definitive agreements follow, the transaction contemplates delisting and termination of public registration, a fundamental change to capital market access for holders.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Forian Inc.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

34630N106

(CUSIP Number)

Creighton Condon
599 Lexington Ave.,
New York, NY, 10022
(212) 848-7628

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/25/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

2025 Acquisition Corp

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Wygod Max C

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,328,927.00
8	Shared Voting Power 3,031,309.00
9	Sole Dispositive Power 1,328,927.00
10	Shared Dispositive Power 3,031,309.00

11

Aggregate amount beneficially owned by each reporting person

4,360,236.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.7 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Emily Bushnell

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 901,224.00
8	Shared Voting Power 3,031,309.00
9	Sole Dispositive Power 901,224.00
10	Shared Dispositive Power 3,031,309.00

11

Aggregate amount beneficially owned by each reporting person

3,932,533.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ADMINISTRATIVE TRUST U/ WYGOD FAMILY RV

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,541,733.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,541,733.00

11

Aggregate amount beneficially owned by each reporting person

1,541,733.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Anthony Vuolo

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 4,015,795.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 4,015,705.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

4,015,795.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 7, 9 Includes (i) 3,645,399 shares held by the Max Wygod Family Dynasty Trust of which Mr. Vuolo is trustee and has sole investment and dispositive power; Mr. Vuolo disclaims beneficial ownership of these shares; and 370,396 shares held directly by Mr. Vuolo. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

WYGOD FAMILY REV LT U/T/A

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,489,576.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,489,576.00

11

Aggregate amount beneficially owned by each reporting person

1,489,576.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.8 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

MAX WYGOD FAMILY DYNASTY TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,645,399.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,645,399.00

11

Aggregate amount beneficially owned by each reporting person

3,645,399.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

11.7 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

FEINBERG LARRY N

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 281,380.00
8	Shared Voting Power 1,084,727.00
9	Sole Dispositive Power 281,380.00
10	Shared Dispositive Power 1,084,727.00

11

Aggregate amount beneficially owned by each reporting person

1,366,107.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.4 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE PARTNERS, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 935,598.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 935,598.00

11

Aggregate amount beneficially owned by each reporting person

935,598.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE INSTITUTIONAL PARTNERS, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 113,929.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 113,929.00

11

Aggregate amount beneficially owned by each reporting person

113,929.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.7 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE TEN FUND, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

0.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE INVESTMENT MANAGEMENT, INC. EMPLOYEES' RETIREMENT PLAN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 28,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 28,000.00

11

Aggregate amount beneficially owned by each reporting person

28,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

EP, OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

THE FEINBERG FAMILY FOUNDATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,200.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,200.00

11

Aggregate amount beneficially owned by each reporting person

7,200.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE ASSOCIATES, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,049,527.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,049,527.00

11

Aggregate amount beneficially owned by each reporting person

1,049,527.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.4 %

14

Type of Reporting Person (See Instructions)

HC, OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ORACLE INVESTMENT MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,077,527.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,077,527.00

11

Aggregate amount beneficially owned by each reporting person

1,077,527.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.5 %

14

Type of Reporting Person (See Instructions)

CO, IA

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

FEINBERG CHILDREN'S TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

BK

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 748,865.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 748,865.00

11

Aggregate amount beneficially owned by each reporting person

748,865.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.4 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

USDAN ADAM

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

BK

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 748,865.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 748,865.00

11

Aggregate amount beneficially owned by each reporting person

748,865.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.4 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 8, 10, 11 Mr. Usdan disclaims beneficial ownership of these shares. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Adam H. Dublin

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,505,533.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,505,533.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,505,533.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

ADAM H. DUBLIN 2019 FAMILY TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,831,526.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,831,526.00

11

Aggregate amount beneficially owned by each reporting person

1,831,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Phyllis Dublin

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,831,526.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,831,526.00

11

Aggregate amount beneficially owned by each reporting person

1,831,526.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 8, 10 Ms. Dublin disclaims beneficial ownership of these shares. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Edward F. Spaniel, Jr.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 688,965.00
8	Shared Voting Power 1,831,546.00
9	Sole Dispositive Power 688,965.00
10	Shared Dispositive Power 1,831,546.00

11

Aggregate amount beneficially owned by each reporting person

2,520,491.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

8.1 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 8, 10 Mr. Spaniel disclaims beneficial ownership of these shares. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Carl Berg

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 597,000.00
8	Shared Voting Power 943,878.00
9	Sole Dispositive Power 597,000.00
10	Shared Dispositive Power 943,878.00

11

Aggregate amount beneficially owned by each reporting person

1,540,878.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.9 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 8, 10, 11 Includes (i) 525,000 shares held jointly by Mr. Berg and his spouse, Rachel Berg, (ii) 237,578 shares held by Rachel Berg GST Exempt 2012 Trust, of which Mr. Berg is trustee, (iii) 597,000 shares held directly by Mr. Berg, (iv) 52,000 shares held by Rachel Berg, over which Mr. Berg has investment authority, (v) 32,300 shares held by Eric Berg, over which Mr. Berg has investment authority, (vi) 30,300 shares held by Adam Berg, over which Mr. Berg has investment authority, (vii) 36,700 shares held by Emma Berg, over which Mr. Berg has investment authority, and (viii) 30,000 shares held by Alexander Berg, over which Mr. Berg has investment authority. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

MARBLE LANE PARTNERS I, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,472,984.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 1,472,984.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

1,472,984.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.7 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Michael Sawyer

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

SC, PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 717,699.00
8	Shared Voting Power 717,699.00
9	Sole Dispositive Power 717,699.00
10	Shared Dispositive Power 717,699.00

11

Aggregate amount beneficially owned by each reporting person

717,699.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.3 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

NELL AND JANE CAMERON 2006 TRUST

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CONNECTICUT

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 618,908.00
8	Shared Voting Power 618,908.00
9	Sole Dispositive Power 618,908.00
10	Shared Dispositive Power 618,908.00

11

Aggregate amount beneficially owned by each reporting person

618,908.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

2.0 %

14

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Shahir Kassam-Adams

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 202,434.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 202,434.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

202,434.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

360 Ventures, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

VIRGINIA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 202,434.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 202,434.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

202,434.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.6 %

14

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Charles Mele

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 103,911.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 103,911.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

103,911.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

CUSIP No. 34630N106

1

Name of reporting person

Michael Glick

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 80,154.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 80,154.00

11

Aggregate amount beneficially owned by each reporting person

80,154.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

ITEMS 8, 10 Includes 80,154.00 shares held by Mr. Glick in joint tenancy with his spouse, Sharon Glick. ITEM 13 Calculated based on 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.001 par value per share
(b)	Name of Issuer: Forian Inc.
(c)	Address of Issuer's Principal Executive Offices: 41 University Drive, Suite 400, Newtown, PENNSYLVANIA , 18940.
Item 2.	Identity and Background
(a)	This statement is filed by (i) 2025 ACQUISITION CORPORATION, a Delaware corporation, (ii) Max. C. Wygod, an individual, (iii) Emily Bushnell, an individual, (iv) the ADMINISTRATIVE TRUST U/ WYGOD FAMILY RV, (v) the WYGODFAMILY REV LT U/T/A, (vi) the Estate of Martin J. Wygod, (vii) Anthony Vuolo, an individual, (viii) the MAX WYGODFAMILY DYNASTY TRUST, (ix) ORACLE PARTNERS, L.P., a Delaware limited partnership ("Partners"), (x) ORACLEINSTITUTIONAL PARTNERS, L.P., a Delaware limited partnership ("Institutional Partners"), (xi) ORACLE TEN FUND, L.P., a Delaware limited partnership ("Ten Fund"), (xii) ORACLE INVESTMENT MANAGEMENT, INC. EMPLOYEES' RETIREMENTPLAN, a employee benefit plan organized in Connecticut (the "Retirement Plan"), (xiii) the FEINBERG FAMILYFOUNDATION, a foundation organized in Connecticut (the "Foundation"), (xiv) ORACLE ASSOCIATES, LLC, a Delaware limited liability company ("Oracle Associates"), (xv) ORACLE INVESTMENT MANAGEMENT, INC., a Delaware corporation(the "Investment Manager"), (xvi) Larry N. Feinberg, an individual, (xvii) Adam Usdan, solely as trustee of the FEINBERGFAMILY FOUNDATION, (xviii) Adam H. Dublin, an individual, (xix) the ADAM H. DUBLIN 2019 FAMILY TRUST, (xx) Phyllis Dublin, solely as co-trustee of the ADAM H. DUBLIN 2019 FAMILY TRUST, (xxi) Edward Francis Spaniel, Jr., an individual and co-trustee of the ADAM H. DUBLIN 2019 FAMILY TRUST, (xxii) Carl Berg, an individual on behalf of Alexander Ryan Berg, Adam Charles Berg, Eric William Berg, and Emma RoseBerg, (xxiii) MARBLE LANE PARTNERS I, LLC, (xxiv) Michael Sawyer, an individual, (xxv) NELL AND JANE CAMERON 2006TRUST, (xxvi) Keri Cameron, solely on behalf of the NELL AND JANE CAMERON 2006 TRUST, (xxvii) Shahir Kassam-Adams, an individual, (xxviii) 360 Ventures, LLC, a Virginia limited liability company, (xxix) Charles Mele, an individual, and (xxx) Michael Glick, an individual.
(b)	(b) - (c) The names, and, for purposes of this filing, the address and present principal occupation or employment, as applicable, for the Reporting Persons are as follows:
(c)	2025 Acquisition Corporation, a Delaware corporation. The address for the corporation is Max C. Wygod, c/o A&O Shearman, ATTN: Chris Forrester, 1460 El Camino Real 2nd Floor, Menlo Park, CA 94025 Max C. Wygod. Mr. Wygod is a Director and President and Chief Executive Officer of the Issuer. Mr. Wygod's address is c/o Forian Inc., 41 University Drive, Suite 400, Newtown, PA 18940. Emily Bushnell. Ms. Bushnell is an owner and operator of Tranquility Lake Farms LLC. Mrs. Bushnell's address is PO Box 7188, Rancho Santa Fe, CA 92067. The Administrative Trust U/ Wygod Family RV. Mr. Wygod and Mrs. Bushnell are co-trustees of the trust. The address for the trust is PO Box 7188, Rancho Santa Fe, CA 92067. The Wygod Family REV LT U/T/A. Mr. Wygod and Ms. Bushnell are co-trustees of the trust. The address for the trust is PO Box 7188, Rancho Santa Fe, CA 92067. Not applicable for the Estate of Martin J. Wygod. Anthony Vuolo. Mr. Vuolo's address is 21 Coach Lane Upper Saddle River, NJ 07458. The Max Wygod Family Dynasty Trust. Mr. Vuolo is trustee of the trust. The address for the trust is C/O Anthony Vuolo, Trustee 21 Coach Lane Upper Saddle River, NJ 07458. Larry N. Feinberg. Mr. Feinberg's address is 500 W. Putnam Avenue, Greenwich, CT 06830. Partners, Institutional Partners, Ten Fund, Retirement Plan, Foundation, Oracle Associates, and Investment Manager (the "Entities"). Mr. Feinberg is managing member of Oracle Associates, which is general partner of Partners, Institutional Partners, and Ten Fund. Mr. Feinberg is also trustee of Retirement Plan and Foundation and President of Investment Manager. The address for the Entities is 500 W. Putnam Avenue, Greenwich, CT 06830. Adam Usdan. Mr. Usdan's address is 2388 S Ocean Blvd, Highland Beach, FL 33487. The Feinberg Children's Trust. Mr. Usdan is trustee of the trust. The address for the trust is 2388 S Ocean Blvd, Highland Beach, FL 33487. Adam H. Dublin. Mr. Dublin's address is 41 University Drive, Suite 400, Newtown, PA 18940. Phyllis Dublin. Ms. Dublin's address is 41 University Drive, Suite 400, Newtown, PA 18940. Edward Francis Spaniel, Jr. Mr. Spaniel's address is 41 University Drive, Suite 400, Newtown, PA 18940. The Adam H. Dublin 2019 Family Trust. Ms. Dublin and Mr. Spaniel are co-trustees of the trust. The address for the trust is 936 Sheridan Rd. Wilmette, IL 60091. Thomas J. Coleman. Mr. Coleman's address is 55 Railroad Avenue, 2nd Floor, Greenwich, CT 06830. Carl Berg. Mr. Berg's address is 30 Park Place, Apt. 61A, New York, NY 10007. Marble Lane Partners. David Mehlman is managing member of the partnership. The address for the partnership is 417 S. Barrington Avenue, #308, Los Angeles, CA 90049. Michael Sawyer. Mr. Sawyer's address is 2831 S Bayshore Drive, Unit 1403, Coconut Grove, FL 33133. Keri Cameron. Ms. Cameron's address is 11 Quintard Avenue, Old Greenwich, CT 06870. Nell and Jane Cameron 2006 Trust. Ms. Cameron is trustee of the trusts. The address for the trusts is 11 Quintard Avenue, Old Greenwich, CT 06870. Shahir Kassam-Adams. Mr. Kassam-Adams' address is 360 Laurel Lane, Lovingston, VA 22949. 360 Ventures, LLC. Mr. Kassam-Adams is the general manager. The address for the company is 360 Laurel Lane, Lovingston, VA 22949. Charles Mele. Mr. Mele's address is 600 SE 5th Avenue, Apt. S707, Boca Raton, FL 33432. Michael Glick. Mr. Glick's address is 11 5th Avenue, Apt. 10-G, New York, NY 10003.
(d)	None
(e)	None
(f)	United States
Item 3.	Source and Amount of Funds or Other Consideration
	The consideration for the Proposed Transaction (as defined below) is expected to be funded through a combination of personal resources, third-party financing and the Issuer's net cash at closing. The specific amount, sources and terms have not yet been finalized and will be subject to definitive agreements entered into in connection with the Proposed Transaction.
Item 4.	Purpose of Transaction
	On August 25, 2025, the Reporting Persons (each, an "Initial Consortium Member," and together with any additional parties, who may, after the date hereof, join the Consortium Agreement (as defined below), collectively, the "Consortium"), delivered a non-binding proposal letter (the "Offer Letter") to the Board of Directors of the Issuer (the "Board") in respect of a potential offer by the Consortium to acquire all of the outstanding Common Stock of the Issuer not presently owned by the Consortium in a going-private transaction (the "Proposed Transaction"). A copy of the Offer Letter is filed herewith as Exhibit 99.1. In connection with the submission of the Offer Letter, the members of the Consortium entered into a consortium agreement, dated as of August 25, 2025 (the "Consortium Agreement"), which governs their cooperation in pursuing the proposed transaction. A copy of the Consortium Agreement is filed herewith as Exhibit 99.2 and is incorporated by reference into Item 6. The Consortium Agreement specifies, among other things, that members of the Consortium will cooperate in good faith and work exclusively regarding the Proposed Transaction and provides, under certain circumstances, for certain parties to reimburse the other parties for their expenses. The Offer Letter is non-binding in nature and does not obligate in any way the Consortium, the members thereof, or the Issuer to negotiate or enter into definitive documentation with respect to a transaction or otherwise complete the Proposed Transaction. In addition, the Consortium has stated that any transaction, once structured and agreed upon, would be conditioned upon, among other things, the approval of the transaction by a special committee of the board of directors of the Issuer, provided that such committee comprises disinterested directors that are independent and empowered to consider the proposal. If the Proposed Transaction is carried out and consummated, the Common Stock of the Issuer will no longer be traded on the Nasdaq Stock Market and the registration of the Common Stock of the Issuer under Section 12 of the Act is expected to be terminated. No assurance can be given that any definitive agreement will be entered into or the Proposed Transaction will be consummated. Neither the Offer Letter nor this Schedule 13D is meant to be, nor should be construed as, an offer to buy or the solicitation of an offer to sell any of the Issuer's securities. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time and at any time in the future depending on various factors, including, without limitation, the outcome of any discussions referenced in this Schedule 13D, as may be amended from time to time, the Issuer's financial position and strategic direction, actions taken by the Board, price levels of the Issuer's securities, other investment opportunities available to the Reporting Persons, conditions in the securities market and general economic and industry conditions, take such actions with respect to the investment in the Issuer as they deem appropriate. These actions may include, (i) acquiring additional Common Stock and/or other equity, debt, notes, other securities, or derivative or other instruments that are based upon or relate to the value of securities of the Issuer (collectively, "Securities") in the open market or otherwise(greek question mark) (ii) disposing of any or all of their Securities in the open market or otherwise(greek question mark) (iii) engaging in any hedging or similar transactions with respect to the Securities(greek question mark) or (iv) proposing or considering one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentages of the Common Stock beneficially owned by each Reporting Person. The percentages used in this Schedule 13D are calculated based upon an aggregate of 31,112,312 shares of common stock of the Issuer outstanding as of August 13, 2025, as reported on the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025.
(b)	See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. Because of the arrangements in the Consortium Agreement, the members of the Consortium may be deemed to have formed a "group" for purposes of Section 13(d)(3) of the Act. Neither the filing of this Schedule 13D nor any of its contents, however, shall be deemed to constitute an admission by any Reporting Person that it is the beneficial owner of any of the 20,332,879 shares of Common Stock beneficially owned in the aggregate by consortium members other than such shares that it has reported as beneficially owned by it on this Schedule 13D for purposes of Section 13(d) of the Act or for any other purpose, and such beneficial ownership is expressly disclaimed.
(c)	Except as set forth in this Schedule 13D, there have been no transactions in the Common Stock effected during the past 60 days by the Reporting Persons.
(d)	To the knowledge of the Reporting Persons, no person other than each respective Reporting Person has the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the shares beneficially owned by such Reporting Persons.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	The description of the Consortium Agreement set forth in Item 4 is incorporated herein by reference. Except as described in Item 4 and this Item 6, to the knowledge of the Reporting Persons, there are no contracts, arrangements, understandings or relationships (legal or otherwise) involving the Consortium, with respect to any securities of the Issuer, including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, including any securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities other than standard default and similar provisions contained in loan agreements.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Offer Letter, dated August 25, 2025 Exhibit 99.2 - Consortium Agreement, dated August 25, 2025.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

2025 Acquisition Corp

Signature:	/s/ Max C. Wygod
Name/Title:	Max C. Wygod
Date:	08/25/2025

Wygod Max C

Signature:	/s/ Max C. Wygod
Name/Title:	Max C. Wygod
Date:	08/25/2025

Emily Bushnell

Signature:	/s/ Emily Bushnell
Name/Title:	Emily Bushnell
Date:	08/25/2025

ADMINISTRATIVE TRUST U/ WYGOD FAMILY RV

Signature:	/s/ Max C. Wygod
Name/Title:	Max C. Wygod, Co-Trustee
Date:	08/25/2025

Signature:	/s/ Emily Bushnell
Name/Title:	Emily Bushnell, Co-Trustee
Date:	08/25/2025

Anthony Vuolo

Signature:	/s/ Anthony Vuolo
Name/Title:	Anthony Vuolo
Date:	08/25/2025

WYGOD FAMILY REV LT U/T/A

Signature:	/s/ Emily Bushnell
Name/Title:	Emily Bushnell, Co-Trustee
Date:	08/25/2025

Signature:	/s/ Max C. Wygod
Name/Title:	Max C. Wygod, Co-Trustee
Date:	08/25/2025

MAX WYGOD FAMILY DYNASTY TRUST

Signature:	/s/ Anthony Vuolo
Name/Title:	Anthony Vuolo, Trustee
Date:	08/25/2025

FEINBERG LARRY N

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg
Date:	08/25/2025

ORACLE PARTNERS, L.P.

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Managing Member
Date:	08/25/2025

ORACLE INSTITUTIONAL PARTNERS, L.P.

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Managing Member
Date:	08/25/2025

ORACLE TEN FUND, L.P.

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Managing Member
Date:	08/25/2025

ORACLE INVESTMENT MANAGEMENT, INC. EMPLOYEES' RETIREMENT PLAN

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Trustee
Date:	08/25/2025

THE FEINBERG FAMILY FOUNDATION

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Trustee
Date:	08/25/2025

ORACLE ASSOCIATES, LLC

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, Managing Member
Date:	08/25/2025

ORACLE INVESTMENT MANAGEMENT, INC.

Signature:	/s/ Larry N. Feinberg
Name/Title:	Larry N. Feinberg, President
Date:	08/25/2025

FEINBERG CHILDREN'S TRUST

Signature:	/s/ Adam Usdan
Name/Title:	Adam Usdan, Trustee
Date:	08/25/2025

USDAN ADAM

Signature:	/s/ Adam Usdan
Name/Title:	Adam Usdan
Date:	08/25/2025

Adam H. Dublin

Signature:	/s/ Adam H. Dublin
Name/Title:	Adam H. Dublin
Date:	08/25/2025

ADAM H. DUBLIN 2019 FAMILY TRUST

Signature:	/s/ Edward F. Spaniel, Jr.
Name/Title:	Edward F. Spaniel, Jr., Co-Trustee
Date:	08/25/2025

Phyllis Dublin

Signature:	/s/ Phyllis Dublin
Name/Title:	Phyllis Dublin
Date:	08/25/2025

Edward F. Spaniel, Jr.

Signature:	/s/ Edward F. Spaniel, Jr.
Name/Title:	Edward F. Spaniel, Jr.
Date:	08/25/2025

Carl Berg

Signature:	/s/ Carl Berg
Name/Title:	Carl Berg
Date:	08/25/2025

MARBLE LANE PARTNERS I, LLC

Signature:	/s/ David Mehlman
Name/Title:	David Mehlman, Managing Member
Date:	08/25/2025

Michael Sawyer

Signature:	/s/ Michael Sawyer
Name/Title:	Michael Sawyer
Date:	08/25/2025

NELL AND JANE CAMERON 2006 TRUST

Signature:	/s/ Keri Cameron
Name/Title:	Keri Cameron, Trustee
Date:	08/25/2025

Shahir Kassam-Adams

Signature:	/s/ Shahir Kassam-Adams
Name/Title:	Shahir Kassam-Adams
Date:	08/25/2025

360 Ventures, LLC

Signature:	/s/ Shahir Kassam-Adams
Name/Title:	Shahir Kassam-Adams, General Manager
Date:	08/25/2025

Charles Mele

Signature:	/s/ Charles Mele
Name/Title:	Charles Mele
Date:	08/25/2025

Michael Glick

Signature:	/s/ Michael Glick
Name/Title:	Michael Glick
Date:	08/25/2025

FAQ

What did the Schedule 13D filed for Forian Inc. (FORA) disclose?

The filing discloses that a consortium of investors delivered a non-binding Offer Letter proposing a going-private acquisition and executed a Consortium Agreement dated August 25, 2025 (Exhibits 99.1 and 99.2).

Who are the principal reporting persons in the consortium for FORA?

Reporting persons include Max C. Wygod, Anthony Vuolo, Emily Bushnell, Larry N. Feinberg and related entities, various trusts and partners as listed in Item 2.

How much of Forian's stock do consortium members report owning?

Percentages are calculated on 31,112,312 outstanding shares. Individual disclosed stakes include Max C. Wygod 14.7%, Anthony Vuolo 12.9%, and others as shown on the cover pages.

Is the proposed transaction binding or finalized?

No. The Offer Letter is explicitly described as non-binding, and any transaction would be conditioned on definitive agreements, special committee approval, and finalized financing.

What would happen to Forian's public listing if the transaction is completed?

If the Proposed Transaction is consummated, the filing states the Common Stock will no longer be traded on Nasdaq and registration under Section 12 is expected to be terminated.

Are the sources of funds for the proposed transaction determined?

No. The filing states financing is expected to be funded by a combination of personal resources, third-party financing and the Issuer's net cash, but specific amounts, sources and terms have not been finalized.