Solana Treasury Forward Industries Uses Loan to Buy Back Shares After 89% Price Dive

Leading Solana treasury firm Forward Industries is buying back more than 6 million shares of FWDI for $27.4 million from an institutional investor, the firm announced on Thursday.  The privately negotiated transaction reduces the firm’s common shares outstanding by 7.4% and was financed via a $40 million crypto loan through Galaxy Digital, which was secured by staked Solana held in the firm’s treasury.  “Forward is always looking for and assessing opportunities to increase SOL-per-share accretion for shar ...