Forward Industries (NASDAQ: FWDI) announced an institutional private placement to raise $25 million in gross proceeds through the issuance of 3,125,000 shares of common stock at a price of $8.00 per share. The technology firm confirmed it will allocate all net proceeds to strategically acquire SOL tokens, establishing the cryptocurrency as the cornerstone of its corporate balance sheet.
This transaction accelerates an institutional corporate adoption model akin to MicroStrategy’s playbook, yet focused exclusively on the Solana ecosystem. Through this initiative, leadership aims to increase the amount of SOL backing each outstanding share, catering to traditional capital investors seeking direct, regulated exposure to the network’s throughput and scalability.
The closing of the transaction is projected for this Thursday, September 24, 2026, when Forward Industries will initiate systematic spot market purchases. This move establishes the firm as a pivotal institutional player supporting medium-term Solana liquidity.
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