Solana Company (HSDT) announced on Tuesday that its board has unanimously rejected an unsolicited, non-binding all-stock proposal from Forward Industries Inc. to acquire the company for $1.48 per share.
Digital asset treasury firm Solana Company, which acquires and holds Solana tokens, said the board concluded that the proposal substantially undervalued the company and was not in the best interests of its stockholders.
The company received the proposal on June 4.
In the pre-market activity on the Nasdaq, shares of Solana were up 2.86 percent, changing hands at $1.8000, after closing Monday's regular session 13.64 percent higher.
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