Forward Industries, Inc. (NASDAQ: FWDI) has announced a significant expansion of its Solana (SOL) treasury, acquiring over 500,000 SOL during its fiscal third quarter of 2026 at an average purchase price of approximately $79 per SOL. This brings the company's total Solana holdings to 7.55 million SOL as of June 30, 2026. The move underscores Forward's commitment to its digital asset treasury strategy, which focuses on accumulating and staking SOL to generate yield and enhance shareholder value.
The company also revealed that it sold 93,642 shares through its at-the-market offering during the quarter, achieving an annualized SOL-per-share growth of 36%. This growth metric highlights the efficiency of Forward's capital allocation, as the company continues to increase its Solana holdings relative to its outstanding shares. According to the announcement, SOL per fully diluted share rose to 0.0729 as of June 30, up from 0.0669 at the end of the prior quarter.
Forward's inclusion in the Russell 2000 and Russell 3000 indexes has further strengthened its ability to raise capital. The company noted that this index membership enhances its capacity to issue shares at a premium to net asset value, complementing its strategy of using fwdSOL as collateral to access liquidity while generating staking yield. This approach allows Forward to maintain a robust Solana treasury while also utilizing its digital assets for operational flexibility.
The company's treasury strategy is supported by industry-leading investors and operating partners, including Galaxy Digital and Jump Crypto, who participated in a private placement in September 2025. Forward Industries positions itself as a Solana-focused digital asset treasury company, with a mission to expand and strengthen the Solana ecosystem by acquiring and staking SOL, as well as engaging with Solana developers and related projects.
For more details on the press release, visit https://ibn.fm/Hg8po. Additional information about Forward Industries and its Solana treasury strategy can be found at forwardindustries.com.
