Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, announced that it made 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 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.
The announcement underscores Forward Industries' strategic focus on consolidating digital asset treasury operations within the Solana network. By acquiring Brera Holdings, Forward aimed to expand its treasury platform, leveraging a larger capital base to enhance staking, trading, and investment activities. The rejection by Brera's board signals potential differences in valuation or strategic direction, but Forward's willingness to continue discussions indicates the importance of this acquisition to its growth plans.
Forward Industries launched its digital asset treasury strategy in September 2025, supported by industry-leading investors including Galaxy Digital and Jump Crypto. The company's mission is to strengthen the Solana ecosystem by acquiring and staking SOL and engaging with Solana-related projects. This proposed acquisition aligns with that mission, aiming to create a more robust and liquid platform for shareholders.
For more information on Forward Industries and its 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 monitoring the Solana ecosystem, as it highlights consolidation trends among digital asset treasury companies. The outcome of these negotiations could influence market perceptions of Forward Industries' growth trajectory and the overall health of the Solana network.
