Forward Industries, Inc. (NASDAQ: FWDI) announced on June 9, 2026, that it had submitted an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC (“SLMT”) in an all-stock transaction. Under the terms of the proposal, SLMT shareholders would receive 1.54 newly issued shares of Forward common stock for each SLMT share, representing a premium of approximately 30.7% to the volume-weighted average closing price of SLMT ordinary shares over the 10 trading days ended June 1, 2026, or $7.19 per share.
Forward Industries, a Solana-focused digital asset treasury company, stated that the proposal was rejected by SLMT’s board of directors on June 6, 2026, despite what it described as a compelling opportunity for shareholders to receive a meaningful premium while maintaining exposure to the Solana ecosystem through a larger and more liquid treasury platform. The company expressed disappointment in the rejection but indicated it remains open to further discussions, believing that the proposed combination would advance the shared objective of increasing value for shareholders and supporting growth within the Solana ecosystem.
The proposed acquisition highlights Forward Industries’ strategic focus on expanding its presence within the Solana ecosystem. The company’s mission is to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. Launched in September 2025 with support from industry-leading investors such as Galaxy Digital and Jump Crypto, Forward’s digital asset treasury strategy aims to strengthen the Solana network by acquiring and staking SOL and engaging with Solana developers and projects.
For more details, the full press release is available at https://ibn.fm/5Ykvd.
The rejection of the proposal raises questions about the future of consolidation within the Solana ecosystem and the potential for other acquisition attempts. Forward Industries remains committed to its strategy of increasing shareholder value through strategic investments and acquisitions in the digital asset space.
