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Hannah Collymore

Forward Industries proposes all-stock bid for Solana Company at about $1.63 a share

Forward Industries (NASDAQ: FWDI) said on June 15 it submitted a non-binding, all-stock proposal to acquire Solana Company (NASDAQ: HSDT). Solana Company’s board rejected the offer without entering negotiations, according to Forward’s public statement. Under the proposal, HSDT shareholders would receive 0.386 newly issued Forward Industries shares for each HSDT share, valuing each HSDT share at roughly $1.63.
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