Forward Industries expands Solana treasury holdings, shares rise 17%

Traders Union
All News
Crypto
Forward Solana treasury expansion

Highlights

Forward Industries increases its Solana treasury holdings by over 500,000 SOL in Q3, reaching 7.55 million SOL valued at about $576 million.
FWDI executes a capital strategy of share issuance and buybacks, reporting annualized SOL-per-fully diluted share growth of 36% from the previous quarter.
Inclusion in the Russell 2000 and Russell 3000 indexes enhances institutional investor access as FWDI shares jump over 17% to $4.93, outpacing Solana's one-month high above $77.

Quarterly SOL buying and capital strategy

The Block reports that Forward Industries says it increases its treasury holdings by more than 500,000 SOL during the fiscal third quarter, taking its total to more than 7.55 million SOL, valued at about $576 million. The company says it acquires the tokens at an average price of about $79 each during the quarter that ends on Tuesday, and it reports annualized SOL-per-fully diluted share growth of 36% from the previous quarter.

Forward also says it sells 93,642 shares through its at-the-market equity program during the quarter while continuing to repurchase stock when shares trade below a net asset value ratio of 1. Chief Investment Officer Ryan Navi says in a statement that the company's mandate is to maximize SOL per share and build long-term shareholder value, with plans to keep issuing shares when they trade at a premium to net asset value and buying back stock at discounts.

Market position and investor access

With 7.55 million SOL, Forward Industries widens its lead as the largest publicly traded Solana treasury company. The Block's data shows that its holdings exceed the combined roughly 6.7 million SOL held by Solana Company, DeFi Development Corp., and Upexi.

The company also says its inclusion in the Russell 2000 and Russell 3000 indexes broadens access to institutional investors and creates another route to raise capital for additional SOL purchases. FWDI shares trade around $4.93, up more than 17% on the day, while Solana rises to a one-month high above $77 after rebounding from a two-and-a-half-year low near $60 earlier in June.

In our earlier article on Strategy (MSTR), we covered the company’s shift away from a strict “never sell” Bitcoin stance by introducing a Digital Credit Capital Framework that could allow up to $1.25 billion in potential BTC sales to improve liquidity and capital flexibility. We also noted its emphasis on capital management—alongside preferred-dividend changes and ongoing BTC holdings—while technical signals pointed to mixed momentum and elevated volatility risk.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.