Welcome to our dedicated page for Forian SEC filings (Ticker: FORA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Forian Inc. (FORA) SEC filings page on Stock Titan provides access to the company’s official regulatory documents filed with the U.S. Securities and Exchange Commission. As a Nasdaq-listed issuer in the data processing and healthcare analytics space, Forian uses these filings to report its financial condition, governance matters, strategic transactions and other material events related to its operations in life sciences, healthcare and financial services analytics.
Through periodic reports such as the Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, Forian presents audited and unaudited financial statements, discussions of results from continuing operations, information on discontinued operations, and details about its large-scale healthcare data assets and information products. These filings also include sections like “Risk Factors” that the company references in its news releases when discussing uncertainties related to its strategy, data assets and market environment.
Current Reports on Form 8-K document specific material events. Forian has used 8-K filings to disclose changes in independent registered public accounting firms, including the dismissal of CBIZ CPAs P.C. and the appointment of BDO USA, P.C., along with discussion of previously identified material weaknesses in internal control over financial reporting and related restatements. Other 8-Ks report financial results for particular quarters and describe proposals and governance actions, such as the Board’s receipt of an unsolicited, preliminary, non-binding proposal to take the company private and the formation of a Special Committee to evaluate that proposal.
Proxy materials, including the Definitive Proxy Statement (DEF 14A) filed on December 15, 2025, provide insight into Forian’s corporate governance and strategic considerations. In that proxy statement, the company calls a Special Meeting of Stockholders to vote on redomiciling from Delaware to Maryland through a statutory conversion and on potential adjournments of the meeting to solicit additional proxies. The document explains the Board’s and Special Committee’s reasoning and outlines how the redomiciliation relates to the evaluation of a take-private offer and other potential transactions.
On Stock Titan, these filings are updated as they appear on the SEC’s EDGAR system. AI-powered tools can help summarize lengthy documents, highlight key changes in financial performance, identify governance and control issues, and surface items such as revenue recognition discussions, internal control assessments and details of strategic proposals. Users can also review ownership and governance information contained in proxy statements and track how Forian’s disclosures evolve across reporting periods.
Forian Inc. is the target of a planned cash tender offer by 2025 Acquisition Company, LLC and its subsidiary Bravo Merger Sub, Inc. pursuant to an Agreement and Plan of Merger dated April 2, 2026. The announcement states the tender offer has not commenced and that formal tender offer materials (Schedule TO) and the company’s Solicitation/Recommendation Statement (Schedule 14D-9) will be filed at commencement. Shareholders are urged to read those documents when available; materials will be posted free on the SEC website and provided at no charge.
Forian Inc. has entered into a definitive merger agreement under which a consortium-led vehicle, 2025 Acquisition Company, LLC, will acquire Forian through a tender offer followed by a merger. Each outstanding common share will be converted into the right to receive $2.17 in cash, without interest and subject to tax withholding.
The filing details an amended consortium agreement, adds new consortium members, and describes an equity commitment letter under which a Wygod/Bushnell family trust has committed up to $5.5 million of equity funding to support closing payments. Completion of the offer and subsequent merger is subject to customary conditions, including a minimum tender of more than 50% of outstanding shares and the absence of a continuing Company Material Adverse Effect.
Forian Inc. is the subject of a planned going-private cash merger led by a consortium affiliated with Max Wygod. The reporting persons, including Max C. Wygod, Emily Bushnell and Wygod family trusts, report beneficial ownership stakes such as 12.4% and 11% of Forian’s common stock.
On April 2, 2026, a special purpose vehicle affiliated with Max Wygod and Bravo Merger Sub, Inc. signed a Merger Agreement with Forian. After a tender offer, Forian will merge into the buyer group and become a wholly owned subsidiary, with each outstanding share (other than specified excluded shares) converted into the right to receive $2.17 in cash per share, subject to appraisal rights and tax withholding.
A Wygod family trust committed up to $5,500,000 of equity financing to fund the closing payments. Closing is conditioned on more than 50% of shares being tendered (including existing buyer holdings), the accuracy of certain representations, Forian’s compliance with covenants, absence of a continuing Company Material Adverse Effect, and no blocking court orders.
Forian Inc. agreed to be acquired by a consortium led by its CEO in an all-cash transaction at $2.17 per share via a tender offer, valuing the company’s equity at approximately $68 million and returning it to private ownership.
The offer price represents a premium of about 22.6% to Forian’s unaffected closing share price on August 22, 2025. A subsidiary of 2025 Acquisition Company, LLC will launch a tender offer, initially open for 20 business days and extendable under specified conditions, including satisfaction of a “Minimum Condition” requiring more than 50% of outstanding shares to be tendered.
After the tender offer, a merger will cash out remaining public shares at the same price, and Forian’s stock will be delisted from Nasdaq. The board, following the unanimous recommendation of a Special Committee of independent directors, unanimously approved the deal and recommends stockholders tender their shares. The agreement includes a $1.5 million termination fee plus up to $1.25 million in expense reimbursement in certain termination scenarios and is not subject to a financing condition.
Forian Inc. provides data science-driven information and analytics solutions for life sciences, healthcare and financial services customers, using a large HIPAA-compliant, longitudinal U.S. health data repository sold mainly via multi-year subscriptions. The company expanded into financial services through its acquisition of Kyber Data Science in 2024.
Forian completed a redomiciliation from Delaware to Maryland in January 2026 without changing its operations, management, assets or liabilities. The business depends heavily on third-party data suppliers, some of which have reduced or are winding down data licensing, which could affect future solutions.
The company discloses a material weakness in internal control over financial reporting related to revenue recognition under ASC 606 as of December 31, 2025 and plans remediation. Forian emphasizes cybersecurity governance, maintains SOC 2 coverage, and reports no material cybersecurity incidents to date. As of March 27, 2026, it had 50 full-time employees and approximately 31.2 million common shares outstanding.
Forian Inc. reported strong growth in fourth quarter and full year 2025 results. Full year 2025 revenue was $30,256,919, up from $20,153,263 in 2024, while net loss narrowed to $2,874,042 from $3,771,070. Adjusted EBITDA improved to $840,408 from $489,134, reflecting better underlying profitability.
In the fourth quarter, revenue rose to $7,962,480 from $5,812,472, but the company posted a net loss of $1,821,752 versus net income of $199,711 a year earlier, and negative Adjusted EBITDA of $170,531 versus positive $120,599. As of December 31, 2025, cash and cash equivalents were $12,903,760, total assets were $44,130,895, and total liabilities were $14,352,147, leaving stockholders’ equity of $29,778,748.
Forian Inc. Chief Financial Officer Michael Vesey reported a Form 4 insider transaction involving company common stock. On February 13, 2026, 4,918 shares were disposed of at a reported price of $2.10 per share in a tax-withholding disposition related to the net settlement of vested restricted stock units. According to the disclosure, this was not a market transaction but shares withheld by the company to cover tax obligations. After this event, Vesey directly owned 589,610 shares of Forian common stock.
Forian Inc. reported an insider equity transaction by its Chief Financial Officer, Michael Vesey. On 01/12/2026, 18,077 shares of Forian common stock were withheld at a price of $2.12 per share to satisfy tax withholding and remittance obligations tied to the net settlement of vested restricted stock units, and this was not a market transaction.
Following this tax-related share withholding, Vesey beneficially owned 594,528 shares of Forian common stock in direct ownership.
Forian Inc. is changing its state of incorporation from Delaware to Maryland after stockholders approved a redomiciliation by statutory conversion at a special meeting on January 8, 2026. The redomiciliation became effective at 12:01 a.m. Eastern Time on January 9, 2026.
Each issued and outstanding share of Forian common stock automatically converted into one share of common stock of the new Maryland corporation, and all existing warrants, options and rights now relate to the same number of Maryland common shares on the same terms. Stockholders do not need to exchange certificates, and the common stock will continue to trade on the Nasdaq Stock Market under the symbol “FORA”.
The company states the move does not change its business, management, employees, properties, obligations, assets or liabilities, and does not adversely affect material contracts. New Maryland articles of incorporation, bylaws and indemnification agreements for directors and officers are now in effect, which change certain stockholder rights as described in the company’s proxy statement. The redomiciliation proposal passed with 22,312,024 votes for, 1,620,763 against and 1,308 abstentions.
Forian Inc. is asking stockholders to approve a redomiciliation that would convert the company from a Delaware to a Maryland corporation through a statutory conversion. An independent special committee reviewed the plan of conversion, new Maryland charter and bylaws, and unanimously concluded these are advisable, fair and in the best interests of unaffiliated stockholders, then recommended Board approval.
The materials explain that Delaware Section 203 currently restricts a consortium led by CEO Max Wygod from completing a cash-out merger under its non-binding $2.10 per-share take-private proposal. Moving to Maryland, while opting out of Maryland’s business combination statute and exempting all holders from the control share statute, would remove these constraints and allow fuller consideration of that offer and other potential transactions.
A recent Schedule 13D/A indicates the consortium beneficially owns 20,654,385 common shares, or 66.5% of the outstanding stock, and has stated it will vote all of them for the redomiciliation and related adjournment authority, effectively ensuring both proposals pass if it votes as indicated.