Company: FORA
Filing Date: 2025-12-04
Form Type: PRE 14A
Source: 0001140361-25-044359
Chunk: 27

Company: Forian Inc.
Filing Date: 2025-12-04
Form: PRE 14A
Chunk 27
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, which would allow the Special Committee to consider the Take-Private Offer and for the Company to continue to use equity to compensate its directors and officers who are members of the Consortium. In connection with the Redomiciliation, the Company will opt out of the similarly restrictive comparable business combination statute and control share acquisition statute contained in the MGCL (although the Board may repeal or modify this by bylaw amendment at any time in the future). See the sections entitled “- Business Combinations with Certain Persons” and “- Restrictions on Voting Rights” under “Comparison of Delaware Organizational Documents and DGCL to Maryland Organizational Documents and MGCL” below. |

| • | Alternative Jurisdictions. In addition to considering the Redomiciliation or whether the Company should remain a Delaware corporation, the Special Committee, with assistance from its advisors, and, where appropriate, members of Company management and Duane Morris, also evaluated other possible jurisdictions into which the Company could redomicile through a statutory conversion, specifically, Pennsylvania and Texas. The Special Committee considered the material differences in reincorporating to |

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Maryland, Pennsylvania and Texas. The assessment of the Special Committee was that neither Pennsylvania nor Texas offered material greater benefits to the Unaffiliated Stockholders as compared to Maryland and that Maryland offered certain benefits not offered by Pennsylvania or Texas.

| • | Stockholder Rights. Generally, the material rights of the Company’s stockholders, as they currently exist, can be replicated or closely approximated as a Maryland corporation, subject to a few key differences, such as with respect to fiduciary duties, appraisal rights, and exculpation of directors, as discussed in more detail under “Comparison of Delaware Organizational Documents and DGCL to Maryland Organizational Documents and MGCL” below. |

| • | Consortium’s Willingness to Enter into Standstill. The Consortium agreed to enter into the Consortium NDA, pursuant to which provided for, among other things, a twelve (12)-month standstill that prevented the Consortium from, among other things, acquiring, offering or seeking to acquire, agreeing to acquire or making a proposal to acquire Company securities, and from seeking to elect, place or remove a director on or from the Board (and, in each case, from making public announcements or entering into agreements with respect to the foregoing). The existence of the Consortium NDA enables the Board and the Special Committee to have a fulsome negotiation with the Consortium regarding the terms of the Take-Private Offer without the threat of an unn