Forian Director Adler Exits Fully in $2.17‑Per‑Share Tender Offer

Forian Inc. (ticker: FORA) agreed to be acquired by 2025 Acquisition Company, LLC, with a tender offer price set at $2.17 per share in cash. On May 14, 2026, FORA closed at $2.15, down 0.9% from the prior session, giving the company a market capitalization of roughly $92 million. The tender offer closed on May 15, 2026, and the merger became effective the same day.

Adler tendered 37,583 common shares at the offer price, generating approximately $81,500 in cash proceeds. His vested stock options were treated under the merger formula: options with exercise prices below $2.17 were converted into a cash right equal to the number of shares multiplied by the difference between $2.17 and the exercise price; options at or above $2.17, as well as all unvested options, were cancelled without payment. After these transactions, Adler holds no Forian shares or options.

The outcome leaves Forian with no insider equity from Adler, a typical step in a cash‑only acquisition that aligns management interests with the new parent. It also removes a potential voting block, streamlining governance post‑merger.

Watch for the integration of Forian’s operations into Parent, any further insider filings from remaining executives, and how FORA’s stock performs under private ownership.