Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise

Core Viewpoint - Forward Industries, the largest publicly traded Solana treasury company, is seeking to raise $4 billion through an at-the-market equity offering, which is comparable to previous significant raises in the cryptocurrency sector [1][2]. Group 1: Fundraising and Strategy - The $4 billion raised will be allocated for working capital, pursuing a Solana token strategy, and acquiring income-generating assets to expand the business [2]. - If the company utilizes the proceeds to purchase Solana, it could potentially double the amount of SOL held in treasuries, which currently stands at $3.1 billion [4]. - Forward Industries has appointed Cantor Fitzgerald as the sale agent for the offering, which will incur a 3% fee [5]. Group 2: Market Reaction - Following the announcement, Forward Industries' stock price initially fell to $31.29, representing an 8.2% decline for the session, before recovering to $34.28 [3]. Group 3: Market Confidence - Users on the Myriad prediction market show increasing confidence that Solana (SOL) will reach $250 before experiencing a significant price retrace, with 90% of predictors believing it will not drop below $130 again [5]. Group 4: Industry Trends - Other companies in the Solana treasury space, such as DeFi Development Corp., are also pursuing similar funding strategies, indicating a trend in the industry towards utilizing preferred stock offerings [7].