SkyAI Rejects Forward Industries' Acquisition Proposal, Reaffirms Strategy

Key Facts

1SkyAI's Special Committee of independent directors rejected an all-stock acquisition proposal from Forward Industries.

2The committee determined the proposal was not in the best interests of shareholders and reaffirmed its current strategy.

In a move reflecting management's confidence in its standalone path despite sector volatility, SkyAI's Special Committee of independent directors has rejected an all-stock acquisition proposal from Forward Industries. The committee determined that the bid was not in the best interests of the company's shareholders following a formal review. Consequently, the firm reaffirmed its commitment to its current strategic roadmap, signaling that remaining independent is the optimal route for value creation.

This rejection occurs amid specific market positioning for both entities, as market data shows SkyAI (SKYA) shares closed at $1.38 on September 11, 2026, within a daily range of $1.27 to $1.38. Meanwhile, Forward Industries (FWDI) recorded a closing price of $6.55 on the same date, after hitting an intraday high of $7.02, according to official market data.

Traders should watch for support levels near $1.27 for SKYA, the low reached during the September 11, 2026 session, to gauge further reaction to the board's decision. While the upcoming economic calendar shows no direct catalysts for these instruments in the next seven days, the focus remains on SkyAI's ability to execute its independent strategy in the face of potential takeover interest.