Business
Forian Inc. Announces Completion of Tender Offer and Closing of Merger
Forian is a Privately Held Company; Common Stock to be Delisted From Nasdaq NEWTOWN, PA - May 15, 2026 (NEWMEDIAWIRE) - Forian Inc. (Nasdaq: FORA) ("Forian"
About this update from Forian Inc.
[{"type":"text","content":"Forian is a Privately Held Company; Common Stock to be Delisted From Nasdaq\nNEWTOWN, PA - May 15, 2026 (NEWMEDIAWIRE) - Forian Inc. (Nasdaq: FORA) (\"Forian\" or the \"Company\"), a provider of data analytics and information solutions, today announced the successful completion of the previously announced cash tender offer (the \"Offer\") by Bravo Merger Sub, Inc. (\"Merger Sub\"), a Maryland corporation and wholly owned subsidiary of 2025 Acquisition Company, LLC, a Delaware limited liability company (\"Parent,\" and together with Merger Sub, the \"Buyer Parties\"), to acquire all of the outstanding shares of Forian common stock not already owned by the Buyer Parties at a price of $2.17 per share in cash, without interest and subject to any required tax withholding (the \"Offer Price\").\nThe Offer expired as scheduled at one minute after 11:59 p.m., Eastern Time, on May 14, 2026 (the \"Expiration Date\"). Broadridge Corporate Issuer Solutions, LLC, the depositary for the Offer (the \"Depositary\"), advised Parent that, as of the Expiration Date, a total of 6,444,415 shares of Forian common stock were validly tendered and not properly withdrawn pursuant to the Offer, which, together with the 21,887,631 shares (representing approximately 70% of the outstanding shares) already owned by the Buyer Parties prior to the Offer, satisfied the minimum condition required to consummate the Offer.\nAll conditions to the Offer having been satisfied, on May 15, 2026, Merger Sub accepted for payment all shares validly tendered and not properly withdrawn pursuant to the Offer, and will promptly pay for such shares in accordance with the terms of the Offer. Following the acceptance of tendered shares, and pursuant to the Agreement and Plan of Merger, dated as of April 2, 2026 (the \"Merger Agreement\"), by and among Forian, Parent and Merger Sub, Merger Sub merged with and into Forian (the \"Merger\") in accordance with Section 3-106.1 of the Maryland General Corporation Law, without a vote of Forian's stockholders, with Forian continuing as the surviving corporation and becoming a wholly owned subsidiary of Parent.\nTerms of the Merger\nAt the effective time of the Merger, each share of Forian common stock issued and outstanding immediately prior to the effective time (other than shares owned by Forian, the Buyer Parties or any of their wholly...