Svmuu News Nasdaq Listed company Forward Industries has confirmed that it submitted a non-binding proposal for an all-stock business combination to the board of Helius Medical Technologies (HSDT), the parent company of Solana Company. On June 12, the HSDT board voted to reject the offer and stated that it would not engage in further discussions regarding the transaction. Forward Industries expressed “disappointment and surprise” at this decision, stating that it believes opening a dialogue would be in the best interests of both companies and their shareholders. The proposal is preliminary in nature, and specific valuation, exchange ratio, and follow-up plans have not yet been disclosed.