Forward Industries buys 6.82M SOL tokens for $1.58B

Core Insights - Forward Industries (FORD) has made initial liquid Solana (SOL-USD) purchases totaling 6.82 million SOL at an average price of $232 per SOL, amounting to approximately $1.58 billion [1] - The company aims to establish itself as the world's largest Solana treasury company, which is expected to enhance the Solana ecosystem and provide long-term value for shareholders [1] - The acquisition of non-locked SOL was achieved through open market purchases and on-chain transactions, marking the deployment of proceeds from a recently closed $1.65 billion private investment in public equity financing [1] Financial Details - The total cost of the initial Solana purchases is approximately $1.58 billion [1] - The private investment in public equity financing closed on September 11 and is noted as the largest Solana-focused digital asset treasury raise to date, led by Galaxy Digital, Jump Crypto, and Multicoin Capital [1] Strategic Goals - The company is executing a differentiated Solana treasury strategy designed to capitalize on one of the fastest-growing and most profitable blockchain networks [1] - The chairman of the board emphasized the importance of on-chain purchases as part of the company's strategy moving forward [1]