SkyAI, a Solana treasury management firm, faces a shareholder-backed board challenge from would-be acquirer Forward Industries over a proposed equity dilution plan.
Regulation & Gov ·
SkyAI, a Solana treasury management firm, is facing a board challenge backed by shareholders and Forward Industries, a would-be acquirer of the company. The dispute centers on a proposed equity compensation plan that would authorize 5.145 million shares, representing approximately 7.2% additional dilution to existing shareholders.
The equity plan has become a focal point of tension between SkyAI's current board and both Forward Industries and an organized shareholder group seeking to block or reshape the proposal. The challenge reflects disagreement over capital allocation strategy and shareholder value, with the acquisition interest adding a layer of complexity to the internal corporate governance dispute.
The outcome of the board challenge remains unclear, as does Forward Industries' formal acquisition status or timeline. Neither the conditions under which Forward Industries would proceed with a bid nor the shareholders' specific alternative proposals have been detailed in available accounts.