Forward Industries, Inc. (NASDAQ: FWDI) announced it has acquired more than 500,000 SOL during its fiscal third quarter of 2026 at an average purchase price of approximately $79 per SOL, boosting its Solana treasury to 7.55 million SOL as of June 30, 2026. The company also disclosed it sold 93,642 shares through its at-the-market offering during the quarter, achieving annualized SOL-per-share growth of 36%.
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. This complements its strategy of using fwdSOL as collateral to access liquidity while generating staking yield. Forward reported SOL per fully diluted share increased to 0.0729 as of June 30, up from 0.0669 at the end of the prior quarter.
This expansion of the Solana treasury underscores Forward Industries' commitment to its digital asset treasury strategy, which involves buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses. The company aims to strengthen the Solana ecosystem by acquiring and staking SOL, and engaging with Solana developers and projects to increase shareholder value.
Forward launched its digital asset treasury strategy in September 2025 through a private placement transaction supported by industry leading investors including Galaxy Digital and Jump Crypto. The company's focus on Solana positions it as a key player in the digital asset space, with the potential to benefit from the growth of the Solana network.
For more information on Forward Industries' Solana treasury strategy, visit forwardindustries.com. The full press release is available at https://ibn.fm/Hg8po.
