Forward Industries, Inc. (NASDAQ: FWDI) announced that it acquired more than 500,000 SOL during its fiscal third quarter of 2026 at an average purchase price of approximately $79 per SOL, increasing its Solana treasury to 7.55 million SOL as of June 30, 2026. The company also said it sold 93,642 shares through its at-the-market offering during the quarter while achieving annualized SOL-per-share growth of 36%.
This acquisition underscores Forward Industries' commitment to its digital asset treasury strategy, which focuses on buying, holding, staking, and investing in Solana and related assets. The company's recent inclusion in the Russell 2000 and Russell 3000 indexes enhances its ability to raise capital when its shares trade at a premium to net asset value, complementing its strategy of using fwdSOL as collateral to access liquidity while generating staking yield. According to the company, SOL per fully diluted share increased to 0.0729 as of June 30 from 0.0669 at the end of the prior quarter.
The expansion of the Solana treasury is significant for investors as it demonstrates Forward Industries' disciplined approach to accumulating SOL at favorable prices, potentially creating value through staking rewards and capital appreciation. The company's ability to leverage its stock for capital raises, combined with its index membership, provides flexibility to execute its strategy without diluting shareholder value significantly. As of the end of the quarter, the company holds 7.55 million SOL, positioning it as a notable corporate holder of the digital asset.
Forward Industries' strategy is supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto, as outlined in its September 2025 private placement. The company continues to engage with the Solana ecosystem, aiming to expand and strengthen the network while increasing shareholder value. For more information on the company's Solana treasury strategy, visit forwardindustries.com.
The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
