Forward Industries, Inc. (NASDAQ: FWDI), a Solana treasury company, announced it has entered into a privately negotiated agreement to repurchase 6,164,324 shares for $27.4 million. The transaction reduces the company's outstanding shares and increases its SOL-per-share to 0.0662 following the buyback. The repurchase is being financed through a $40 million digital currency loan agreement with Galaxy Digital, secured by the company's treasury assets, while allowing Forward Industries to continue earning staking rewards on its Solana holdings.
In addition to the share repurchase, Forward Industries detailed a broader cost reduction plan expected to lower selling, general and administrative (SG&A) expenses by approximately 45% by fiscal Q3. These measures are part of the company's efforts to improve operating efficiency and enhance long-term shareholder value. The company's strategy focuses on buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses.
Forward Industries launched its digital asset treasury strategy in September 2025 with a private placement supported by industry leaders including Galaxy Digital and Jump Crypto. The company's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with Solana network projects. For more information on the company's Solana treasury strategy, visit forwardindustries.com.
The latest news and updates regarding FWDI are available in the company's newsroom at https://ibn.fm/FWDI.
