Forian stock is now delisted and will cease trading on Nasdaq. Shareholders who did not tender should contact the paying agent to receive the $2.17 per share merger consideration. No further trading opportunities exist for FORA on Nasdaq.
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Executive Summary
Nasdaq filed a Form 25-NSE to remove Forian Inc. (FORA) common stock from listing and registration, effective immediately. This is the final procedural step following the completion of the all-cash acquisition by a consortium led by Chairman/CEO Max Wygod at $2.17 per share, which closed on May 15, 2026. The delisting confirms the end of Forian as a public company, with no further trading expected on Nasdaq.
Key Facts
- Form 25-NSE filed by Nasdaq on May 15, 2026, to delist Forian Inc. common stock under SEC Rule 17 CFR 240.12d2-2(a)(3).
- Delisting follows the completion of the all-cash acquisition by a consortium led by Chairman/CEO Max Wygod at $2.17 per share.
- The tender offer expired with ~91% of outstanding shares validly tendered, and remaining public shares were converted into the right to receive $2.17 per share.
- Effectiveness date is May 15, 2026, meaning the delisting is immediate.
Financial Impact
All remaining public shares converted to $2.17 per share in cash; total deal value not disclosed in this filing but prior 8-K indicated ~91% tendered.
Risk Factors
- Shareholders who did not tender may face delays in receiving the $2.17 per share consideration.
- No further public market for FORA shares; any remaining value is limited to the merger consideration.
- Potential appraisal or dissenters' rights litigation if shareholders believe the price was inadequate.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 25-NSE Filing (Primary) | 0001354457-26-000464 |
| Document: 0001354457-26-000464-index-headers.html | 0001354457-26-000464 |
| Document: 0001354457-26-000464-index.html | 0001354457-26-000464 |
| Document: 0001354457-26-000464.txt | 0001354457-26-000464 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 1, 2026 21w ago | 15-12G | — | awaiting T+20 | — | — |
May 15, 2026 23w ago | 25-NSE | $2.17 | awaiting T+20 | — | — |
May 15, 2026 23w ago | 8-K | $2.17 | awaiting T+20 | — | — |
Apr 3, 2026 29w ago | 8-K | $2.15 $2.15 | · 0.00% | ▼ −8.98% | — |
US Market Status
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