Forian Inc., a leading provider of data science driven information and analytics solutions, has received an unsolicited, preliminary, non-binding proposal from its CEO to take the company private at $2.10 per share.
The proposal, led by Forian founder and CEO Max Wygod, also includes inside directors Adam Dublin and Shahir Kassam-Adams who collectively own approximately 63% of the company's common stock.
The Board of Directors has established a Special Committee to evaluate this proposal and determine the next steps.
Unsolicited Proposal
CEO Max Wygod has made an offer to take Forian Inc. private at $2.10 per share.
Special Committee
Independent directors will evaluate the proposal and decide on the course of action.
Ownership Structure
Max Wygod, Adam Dublin, and Shahir Kassam-Adams collectively own around 63% of the company's common stock.
- The proposal will require financing, negotiation of employment agreements, and approval by the Special Committee.
- There is uncertainty regarding the finalization of the offer and the execution of a definitive acquisition agreement.
- Forian Inc. emphasizes that there are risks and uncertainties associated with such transactions and cautions shareholders.
Forian's future direction and potential privatization are in discussion, subject to evaluation and approvals. Shareholders are advised to stay informed about the evolving situation.