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Forward Industries Closes $1.65B PIPE to Launch Solana Treasury Strategy
Yahoo Finance· 2025-09-11 13:38
Core Insights - Forward Industries, Inc. has successfully closed a PIPE financing round, raising $1.65 billion before fees and expenses, with significant participation from major investors [1][3] - The company plans to utilize the funds to establish cryptocurrency treasury operations, focusing on acquiring SOL, the native token of the Solana blockchain [2][7] - The transaction indicates strong institutional interest in Solana and positions Forward Industries as a publicly traded vehicle for exposure to its growth [3][5] Financial and Strategic Developments - The PIPE financing attracted commitments from a diverse range of global investment firms and prominent angel investors, highlighting broad investor participation [3] - Forward Industries announced governance changes, appointing Multicoin co-founder Kyle Samani as Chairman of the Board and adding Interim CEO Michael Pruitt to the Board [4] - The company aims to build a balance sheet centered around SOL, reflecting its commitment to operational and innovative excellence [7] Market Context - Solana's ecosystem is experiencing significant growth, processing over 8.9 billion transactions in Q2 2025 and supporting approximately $4 billion in decentralized exchange volume daily [6] - The network generated about $1.2 billion in real economic value and added more than 7,500 developers in 2024, indicating a robust development environment [6]
Forward Industries 完成 16.5 亿美元私募交易,以建立 Solana 核心财库
Xin Lang Cai Jing· 2025-09-11 12:24
Core Insights - Forward Industries (FORD) completed a $1.65 billion private equity investment (PIPE) deal on September 11, focusing on building a treasury centered around Solana [1] - The investment was led by Galaxy, Jump Crypto, and Multicoin Capital, which contributed over $300 million [1] - Following the announcement, Forward Industries' stock price initially surged by 15% in pre-market trading but later retraced some gains [1] Company Summary - Forward Industries is leveraging the investment to enhance its financial capabilities centered on Solana [1] - The company is part of a broader trend where financial firms focused on Solana, including DeFi Development, Upexi, and Sol Strategies, collectively hold over $1.4 billion in SOL [1]
X @Ivan on Tech 🍳📈💰
RT Mike Novogratz (@novogratz)Proud that @galaxyhq, alongside @jump_ & @multicoincap, is leading a $1.65b PIPE in Forward Industries $FORD — developing a publicly traded company with the world’s largest Solana treasury strategy. Conviction in Solana & onchain markets has never been stronger. ...
Forward Industries Closes $1.65B Deal to Build Solana Treasury, Shares Jump 15% Pre-Market
Yahoo Finance· 2025-09-11 10:40
Core Viewpoint - Forward Industries has successfully closed a $1.65 billion PIPE deal to establish a corporate crypto treasury focused on Solana (SOL) [1] Group 1: Investment Details - The investment was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, with over $300 million contributed by these three lead investors [2] - Additional participation came from firms such as Bitwise Asset Management, Borderless Capital, and SkyBridge Capital, along with several crypto founders and angel investors [2] - The company plans to anchor its balance sheet in Solana's native token, SOL, using the funds raised [1] Group 2: Corporate Governance - Multicoin co-founder Kyle Samani has been appointed as chairman of the board, while Galaxy's Chris Ferraro and Jump Crypto's Saurabh Sharma will serve as observers [2] Group 3: Market Context - The move aligns with a trend among public companies exploring digital asset treasuries, aiming to hold cryptocurrencies directly on their balance sheets [3] - Companies like MicroStrategy, led by Michael Saylor, have set a precedent as significant corporate owners of Bitcoin (BTC) [3] - Solana-focused treasury firms, including DeFi Development, Upexi, and Sol Strategies, collectively hold over $1.4 billion in SOL [3] Group 4: Market Reaction - Following the announcement, Forward Industries' stock surged as much as 15% in pre-market trading before paring some gains [2]
Forward Industries Closes $1.65 Billion Private Placement in Cash and Stablecoin Commitments to Advance Solana Treasury Strategy
Businesswire· 2025-09-11 10:00
Core Viewpoint - Forward Industries, Inc. successfully closed a private investment in public equity (PIPE) financing, raising approximately $1.65 billion in gross proceeds before expenses [1] Group 1 - The PIPE financing was led by notable investors including Galaxy Digital, Jump Crypto, and Multicoin Capital [1] - The funds raised will be utilized by Forward Industries for unspecified purposes, indicating potential growth or strategic initiatives [1]
Solana Leaves Bitcoin, Ethereum Behind As Coin Hits 7-Month High — Crypto Analyst Forecasts 'Epic' Year-End Rally - Emeren Group (NYSE:SOL)
Benzinga· 2025-09-11 05:04
Core Viewpoint - Solana (SOL) is experiencing a significant price rally, with expectations for a strong end-of-year performance, outperforming major cryptocurrencies like Bitcoin and Ethereum [1][2][4]. Price Performance - SOL reached a price of $225, marking levels not seen in over seven months, and has gained more than 27% in the last month [2]. - As of the latest data, SOL was trading at $223.17, reflecting a 2.04% increase in the last 24 hours [5]. Market Demand - Open interest in SOL surged by 4% to an all-time high of $15.42 billion, indicating strong demand in the derivatives market [2]. - The majority of Binance futures traders with open SOL positions are betting on a price increase, suggesting bullish sentiment [3]. Bullish Catalysts - Predictions for strong returns in the last quarter are supported by potential exchange-traded fund (ETF) launches and corporate treasury purchases [3][4]. - High-profile issuers like Grayscale, 21Shares, and Fidelity have filed spot ETF applications with the SEC, with decisions expected on or before October 10 [4]. Competitive Position - Solana is positioned as a competitor to Ethereum, capable of processing significantly more transactions per second at a lower cost (less than $0.01 per transaction) [5].
Forward Industries files 8-K to raise $1.65B for a Solana treasury
Invezz· 2025-09-08 19:33
Forward Industries, Inc. (NASDAQ: FORD) has stunned both Wall Street and the crypto industry by unveiling plans to raise $1.65 billion for a Solana-focused treasury program. ...
Forward Industries Stock Doubles as Firm Pivots to Being Solana Treasury
Investopedia· 2025-09-08 13:20
Forward Industries (FORD) shares doubled in premarket trading Monday as the provider of design services for the medical and technology sectors became the latest company to completely shift its busines... ...
Forward Industries (FORD) to become largest Solana treasury holder through $1.6B deal, stock jumps 101%
Yahoo Finance· 2025-09-08 12:52
a radiant Solana vault absorbing torrents of capital from Galaxy Digital, Jump Crypto, and Multicoin monoliths as bullish charts surge upward. Forward Industries’ (FORD) stock price more than doubled after the company revealed plans to launch a $1.65 billion Solana treasury program. The rally followed news that Forward Industries had secured private placement commitments in cash and stablecoins from several industry giants, including Galaxy Digital, Jump Crypto, Multicoin Capital, and C/M Capital Partner ...
Forward Industries(FORD) - 2025 Q3 - Quarterly Report
2025-08-14 18:55
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number 001-34780 FORWARD INDUSTRIES, INC. (Exact name of registrant as specified in its charter) Ne ...