Forian Inc. Receives Unsolicited Proposal from CEO-Led Consortium to Take Company Private at $2.10 Per Share

Forian Inc. (NASDAQ:FORA), a provider of data science driven information and analytics solutions, announced that its Board of Directors received an unsolicited, preliminary, non-binding proposal from a group led by company founder, Executive Chairman and Chief Executive Officer Max Wygod to take the company private. The proposal offers $2.10 per share in cash to the company's other shareholders, representing a 19% premium to the closing price as of August 22, 2025.

The consortium, which includes inside directors Adam Dublin and Shahir Kassam-Adams, beneficially owns approximately 63% of the company's common stock. In the proposal letter dated August 25, 2025, Wygod stated that the group believes taking Forian private would address concerns about the company's low float depressing liquidity and slowing market recognition of value. The proposal argues that being a public company subjects Forian to unnecessary expense, distraction and administrative burden from quarterly reporting requirements and Sarbanes-Oxley compliance obligations.

The company's Board of Directors has established a Special Committee consisting of independent directors to evaluate the proposal and determine the appropriate course of action. The Special Committee, with its advisors, will assess whether the proposal serves the best interests of Forian stockholders and other stakeholders. The proposal is conditioned on several factors including receipt of financing for the transaction, negotiation of satisfactory employment agreements, execution of a definitive acquisition agreement, and approval by the Special Committee.

The consortium plans to fund the transaction through a combination of personal resources, third-party financing and the company's net cash at closing. The transaction would be structured as a two-step process involving a cash tender offer followed by a short-form merger under Section 251(h) of the DGCL. The proposal assumes approximately 31 million shares of common stock are outstanding immediately prior to transaction consummation.

View the original release on https://www.newmediawire.com. The proposal remains subject to satisfactory completion of customary due diligence and negotiation of definitive documentation. There can be no assurance that any definitive offer will be received, that any definitive acquisition agreement will be executed, or that this or any other transaction will be approved or consummated.

The potential privatization of Forian represents a significant development for shareholders and the broader data analytics industry. If completed, the transaction would provide public stockholders with immediate liquidity at a premium to current trading levels while allowing the company to operate without the constraints of public market reporting requirements. The outcome could influence how other data science companies approach public market valuations versus private ownership structures in the evolving healthcare and financial services analytics sectors.