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-based treasury management firm, is facing a board challenge centered on a shareholder dispute involving Forward Industries, which has positioned itself as a would-be acquirer. The contentious issue centers on a proposed equity authorization plan that would allocate 5.145 million shares for stock-based compensation, introducing approximately 7.2% dilution to existing shareholders.
The mechanics pit SkyAI's board against a shareholder coalition backed by Forward Industries' acquisition interest. The equity plan approval would unlock new share issuance for employee and contractor incentives, a common governance practice in crypto firms. However, the scale of dilution and timing relative to Forward Industries' bid have triggered organized shareholder opposition to the proposal.
The outcome of the board challenge remains uncertain. It is not yet clear whether the equity plan will be approved as proposed, modified, or rejected, nor is the status of Forward Industries' acquisition bid fully documented in available reporting.