Forward Industries, Inc. (NASDAQ: FWDI) announced that it has 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 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 said it remains open to further discussions and believes the proposed combination would advance the shared objective of increasing value for shareholders and supporting growth within the Solana ecosystem.
According to the press release, Forward Industries is a Solana-focused digital asset treasury company, with a strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to, and investing in the Solana network, Solana developers, and Solana-related projects. The company launched its digital asset treasury strategy in September 2025, supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto.
The rejection of the proposal comes at a time when Forward Industries is actively seeking to consolidate its position within the Solana ecosystem. The proposed acquisition of Brera Holdings, if completed, would have created a larger and more liquid treasury platform, potentially benefiting both sets of shareholders. Forward Industries emphasized that it remains committed to its strategic objectives and is open to further dialogue with Brera Holdings’ board.
For more details on the proposal, the full press release is available at https://ibn.fm/5Ykvd. Additional information on Forward Industries’ Solana treasury strategy can be found at forwardindustries.com.
