[SkyAI Plans $201 Million Tender Offer and Rejects Forward Industries' Acquisition Proposal] Odaily Planet Daily News: Solana treasury company SkyAI (SKYA) announced plans to initiate a cash tender offer to acquire up to 95% of its outstanding common shares and warrants at a price of $3 per share. The tender offer involves up to approximately 46.4 million common shares and approximately 20.7 million warrants, with a maximum total acquisition amount of approximately $201 million. The company expects to fund the acquisition using existing cash and proceeds from the sale of its Solana assets. SkyAI stated that the tender offer is expected to commence on Thursday and will last for 10 business days, though it may be extended or terminated early. Additionally, the SkyAI board has rejected a non-binding all-stock acquisition proposal proactively made by Forward Industries (FWDI). The proposal offered to exchange 0.306 shares of Forward Industries stock for each share of SkyAI stock. However, the SkyAI board believes the exchange offer undervalues the company.