Forward Industries, Inc. (NASDAQ: FWDI) announced it has made an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC in an all-stock transaction. Under 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 said 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.
Forward Industries is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Its 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 in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched its digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto.
The proposed acquisition underscores Forward's commitment to consolidating Solana-focused assets and could create a larger, more liquid treasury platform for shareholders. The rejection by Brera's board may lead to further negotiations or alternative strategies. For more information on Forward's Solana treasury strategy, visit forwardindustries.com. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
This development is significant for investors in both companies and the broader Solana ecosystem, as it highlights ongoing consolidation efforts and the strategic importance of SOL-related assets. Forward's pursuit of Brera, despite the rejection, signals its determination to grow its treasury footprint and potentially influence the Solana network's development.
