Forward Industries Files $4 Billion Shelf Plan To Fuel Solana Treasury Bet

Group 1 - Forward Industries Inc. filed an automatic shelf registration with the U.S. Securities and Exchange Commission for an at-the-market equity program worth up to $4 billion, allowing the issuance of common shares as needed under market conditions [1] - Proceeds from the program will be allocated towards working capital, asset purchases, and the expansion of its Solana token strategy, indicating a focus on strengthening the balance sheet and increasing exposure to digital assets [2] - The chairman of the board stated that the program provides a "flexible and efficient mechanism" to raise funds for the Solana treasury plan, highlighting the company's previous success in raising funds for Solana [3] Group 2 - Forward Industries recently invested $1.58 billion in Solana tokens, reflecting a trend among companies adopting crypto treasury management strategies [4] - Other firms, such as Helius Medical Technologies Inc. and Upexi Inc., are also investing in Solana for their treasury reserves, with significant amounts raised and plans to utilize Solana as a main reserve asset [5] - Comparable companies in the crypto-linked equity space include Coinbase Global Inc., MicroStrategy Inc., and various ETFs focused on blockchain and Bitcoin strategies [6]