Forward Industries' acquisition proposal for HSDT has been rejected.

KuCoinFlash

Release Time: 06/15/2026 13:36:44

SOL

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Summary

On-chain news broke on Tuesday that Nasdaq-listed Forward Industries submitted a non-binding all-stock merger proposal to HSDT, the parent company of Solana Company. The HSDT board rejected the offer on June 12 and declined to pursue further discussions. Forward described the decision as disappointing and surprising, stating its intent was to create value for both companies and their shareholders. Details such as valuation and exchange ratio remain undisclosed. Crypto news outlets, including Odaily, reported the development, emphasizing HSDT’s lack of follow-up.

Odaily Planet Daily report: Nasdaq-listed Forward Industries confirmed it has submitted a non-binding, all-stock business merger proposal to the board of Helius Medical Technologies (HSDT), the parent company of Solana Company. The HSDT board voted on June 12 to reject the offer and stated that no further discussions on the transaction will be pursued.

Forward Industries expressed "disappointment and surprise" at the decision, stating that initiating dialogue would be in the best interests of both companies and their shareholders. The proposal is non-binding, and specific details such as valuation, exchange ratio, and subsequent plans have not been disclosed.

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