Solana rejects $1.48 per share takeover offer
- Solana Company rejected an unsolicited all-stock acquisition proposal from Forward Industries.
- Shares of the target business traded up at $1.74 following the public disclosure.
- The board determined that the proposal undervalued the enterprise's long-term digital asset strategy.
Solana Company (NASDAQ:HSDT) rejected an unsolicited all-stock acquisition proposal from Forward Industries (NASDAQ:FWDI) valuing the business at $1.48 per share.
The unsolicited takeover attempt began on June 4, 2026, when the digital asset firm submitted its combination proposal.
The transaction proposed that target shareholders receive 0.386 newly-issued shares of common stock for each existing share.
The governing board concluded that the expression of interest significantly undervalued the enterprise and its underlying assets.
The corporate leadership team advised its independent stockholders that no immediate action is required regarding the offer.
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