Forward Industries, Inc. (NASDAQ: FWDI) announced that it acquired over 500,000 SOL during its fiscal third quarter of 2026, bringing its total Solana treasury to 7.55 million SOL as of June 30, 2026. The company reported an average purchase price of approximately $79 per SOL for the additional tokens, reflecting a strategic accumulation of the digital asset. In conjunction with the acquisition, Forward sold 93,642 shares through its at-the-market offering during the quarter, while achieving an annualized SOL-per-share growth rate of 36%.
The company highlighted that its 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. As of June 30, Forward reported SOL per fully diluted share increased to 0.0729, up from 0.0669 at the end of the prior quarter, demonstrating meaningful growth in its digital asset holdings per share.
Forward Industries positions itself as a Solana-focused digital asset treasury company, with a mission to expand and strengthen the Solana ecosystem by acquiring and staking SOL, engaging with the network, and investing in Solana-related projects and businesses. The company 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. For more information on the company's Solana treasury strategy, visit forwardindustries.com.
The continued accumulation of SOL and the growth in SOL-per-share metrics signal Forward's commitment to its digital asset-focused business model. The ability to raise capital through at-the-market offerings and the enhanced visibility from Russell index inclusion may provide the company with additional flexibility to execute its strategy. As the digital asset landscape evolves, Forward's concentrated focus on Solana could differentiate it from other treasury companies that diversify across multiple cryptocurrencies.
For the latest news and updates relating to FWDI, visit the company’s newsroom at https://ibn.fm/FWDI.
