SkyAI Confirms Receipt of Unsolicited, Non-Binding Proposal from Forward Industries

SkyAI, Inc., a financial technology company building agentic finance for the Global South, confirmed receipt of an unsolicited, non-binding proposal from Forward Industries, Inc. (“Forward”) regarding a potential all-stock business combination. Under the terms of the proposal, SkyAI stockholders would receive 0.367 newly issued shares of Forward common stock for each share of SkyAI common stock.

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Consistent with its fiduciary duties, SkyAI’s Board of Directors has established a special committee of independent directors to review and evaluate the proposal and make a recommendation to the Board of Directors regarding the course of action that it believes is in the best interests of SkyAI and its stockholders.

The Company does not undertake any obligation to provide any updates with respect to this or any other proposal or transaction, except as required under applicable law.

SkyAI shareholders do not need to take any action at this time.

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