Forian Inc. Completes Tender Offer and Merger, Stock to Be Delisted From Nasdaq

Forian Inc., a provider of data analytics and information solutions for the life sciences and healthcare sectors, announced today the successful completion of its cash tender offer and subsequent merger with Bravo Merger Sub, Inc., a wholly owned subsidiary of 2025 Acquisition Company, LLC. The transaction, valued at $2.17 per share, marks the company’s transition from a publicly traded entity to a privately held company, with its common stock set to be delisted from the Nasdaq Stock Market.

The tender offer expired on May 14, 2026, with Broadridge Corporate Issuer Solutions, LLC, the depositary, reporting that approximately 6.4 million shares were validly tendered. Combined with the nearly 21.9 million shares already owned by the buyer parties—representing about 70% of outstanding shares—the minimum condition to consummate the offer was satisfied. Following the acceptance of shares, Merger Sub merged with and into Forian under Maryland law, with Forian continuing as the surviving corporation and a wholly owned subsidiary of the parent company.

As a result of the merger, Forian’s common stock will cease trading on Nasdaq before market open on May 15, 2026. The company has requested that Nasdaq file a delisting notification with the U.S. Securities and Exchange Commission (SEC) and intends to file a Form 15 to terminate its registration under the Securities Exchange Act of 1934, thereby suspending its reporting obligations.

The completion of this transaction underscores a significant shift in Forian’s corporate structure, moving from public to private ownership. This change may allow the company to operate with greater flexibility away from the quarterly earnings pressures and regulatory scrutiny of public markets. Forian specializes in providing data management and analytics solutions to optimize operational, clinical, and financial performance for clients in life sciences, healthcare payers and providers, and financial services. The company’s expertise lies in acquiring and normalizing large-scale healthcare data assets to generate proprietary insights.

The delisting from Nasdaq marks the end of Forian’s public trading history, which began when the company went public via a special purpose acquisition company merger in 2021. For investors, the tender offer provided an exit at $2.17 per share, a price that reflects the company’s valuation in the private transaction. The merger eliminates the need for Forian to comply with public company reporting requirements, potentially reducing administrative costs and allowing management to focus on long-term strategic goals without the distraction of short-term market expectations.

While the press release includes cautionary statements about forward-looking risks, the immediate impact is clear: Forian is now a private entity. The company’s website, www.forian.com, remains a resource for information about its services. The transaction was completed under the terms of the Merger Agreement dated April 2, 2026, and all conditions were satisfied, including the minimum tender condition. Shareholders who did not tender their shares in the offer will receive the same $2.17 per share consideration in cash for their shares as a result of the merger.

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