Forward Industries, Inc. (NASDAQ: FWDI), a company focused on building a Solana treasury, announced it has entered into a privately negotiated agreement to repurchase 6,164,324 shares for $27.4 million. The transaction reduces the number of shares outstanding and increases the company's SOL-per-share metric to 0.0662, reflecting its strategy to enhance shareholder value through digital asset management.
The repurchase is being financed through a $40 million digital currency loan agreement with Galaxy Digital, secured by the company's treasury assets. Under the terms, Forward Industries can continue to earn staking rewards on its Solana holdings, allowing it to generate yield while utilizing the loan proceeds. The company also outlined a broader cost reduction plan expected to lower selling, general and administrative (SG&A) expenses by approximately 45% by fiscal Q3, as part of efforts to improve operating efficiency.
Forward Industries' treasury strategy involves buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses. The company aims to expand and strengthen the Solana ecosystem while increasing shareholder value. In September 2025, it launched its digital asset treasury strategy with support from investors and partners including Galaxy Digital and Jump Crypto.
For more information on the company'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.
