Solana Company (NASDAQ: HSDT) said its board of directors unanimously rejected an unsolicited, non-binding acquisition proposal from Forward Industries, Inc., according to a press release dated June 16, 2026.

Forward Industries submitted the proposal on June 4, 2026, offering to acquire Solana Company through an all-stock business combination valued at $1.48 per share.

The board concluded that the proposal "substantially undervalues the Company" and determined it was not in the best interests of the company and its stockholders. No further action is required from Solana stockholders at this time.

Solana Company, based in Newtown, Pa., describes itself as a digital asset treasury focused on acquiring and holding Solana tokens (SOL). The company was created in partnership with Pantera and Summer Capital.