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Project Overview
Forward Industries (Nasdaq: FORD) is an innovative company focused on providing innovative product design, manufacturing, procurement, and distribution services to the world's leading companies, spanning the entire chain from concept design to global supply chain logistics. Forward Industries is becoming a Solana Treasury Company.
Forward Industries' Proposal to Acquire Solana Company Parent HSDT Rejected
Odaily reports, Nasdaq-listed Forward Industries has confirmed that it submitted a non-binding proposal to the board of directors of Helius Medical Technologies (HSDT), the parent company of Solana Company, for an all-stock business combination. The HSDT board voted on June 12 to reject the offer and stated that it would not engage in further discussions regarding the transaction.Forward Industries expressed that it is "disappointed and surprised" by this decision, adding that it believes initiating dialogue is in the best interests of both companies and their shareholders. The proposal is indicative in nature, with specific valuation, exchange ratio, and subsequent plans yet to be disclosed.
SOL treasury Forward Industries launches acquisition offer for Brera Holdings, rejected after 30.7% premium
Forward Industries (@FWDind), the largest treasury company on Solana, has submitted a non-binding all-stock acquisition proposal to Brera Holdings PLC (SLMT) (@Solmate). Brera Holdings holds 2.1 million SOL. The offer valued SLMT at a 30.7% premium, but Brera rejected the proposal. (SolanaFloor)
OKX to List FWDI, AEHR, and FLY Stock Perpetual Contracts
OKX will list FWDI (Forward Industries), AEHR (Aehr Test Systems), and FLY (Firefly Aerospace) stock perpetual contracts between 17:00 and 17:30 on July 27.
Multiple crypto firms appear on the preliminary inclusion list for the Russell Index; Bitmine and Galaxy may join the Russell 1000.
FTSE Russell announced the preliminary inclusion list for the Russell 3000 Index, which includes crypto-related companies such as Sharplink, Forward Industries, Gemini, Galaxy Digital, and Bitmine Immersion Technologies. Among them, Sharplink—valued at approximately $1.2 billion—and Forward Industries—valued at roughly $350 million—may qualify for inclusion in the Russell 2000; Bitmine and Galaxy Digital—which has a market capitalization of approximately $11.55 billion—may meet the eligibility threshold for the Russell 1000. The Russell 3000 tracks the 3,000 largest U.S.-listed companies by market capitalization. The final list will be updated on June 5, June 12, and June 18, and will take effect after the U.S. market close on June 26.
Forward Industries’ Q1 Revenue Soars 319%, but SOL Asset Impairment Widens Net Loss to $283 Million
According to The Block, Forward Industries, the treasury company of Solana, released its Q1 2026 financial report, reporting quarterly revenue of $13 million—a 319% year-on-year increase—primarily driven by SOL staking rewards. However, the company recorded a $201.7 million digital asset loss and an $85.1 million crypto-asset impairment, both stemming from the decline in the fair value of its SOL holdings (SOL fell 33.7% during the quarter), resulting in a net loss of $283.1 million—far exceeding the $1.5 million net loss reported in the same period last year. As of the end of March, the company held approximately 7.04 million SOL and had accumulated 201,200 staking rewards, nearly all of which remained staked. Additionally, in March, the company signed a loan agreement with Galaxy Digital, drawing an initial $40 million, while simultaneously advancing cost-cutting initiatives and share buybacks (reducing basic share capital by 7.4%).
Related news
OKX to List FWDI, AEHR, and FLY Stock Perpetual Contracts
OKX will list FWDI (Forward Industries), AEHR (Aehr Test Systems), and FLY (Firefly Aerospace) stock perpetual contracts between 17:00 and 17:30 on July 27.
Forward Industries Increases Holdings by Over 500,000 SOL in Q3, Solana Treasury Rises to 7.55 Million
Nasdaq-listed company Forward Industries announced that it increased its holdings by over 500,000 SOL at an average price of approximately $79 in the third quarter of fiscal 2026. As of June 30, its Solana treasury size has risen to 7.55 million SOL. The company stated that during the quarter, fully diluted SOL holdings per share increased from 0.0669 to 0.0729, representing an annualized growth of approximately 36%.
SOL Treasury Company Forward Industries Quarterly Accumulates Over 500,000 SOL
Nasdaq-listed company Forward Industries announced the acquisition of over 500,000 SOL during its third fiscal quarter. Its total SOL holdings have now reached 7.55 million, valued at approximately $576 million. The company purchased these tokens at an average price of around $79 each during the period.Data shows that Forward Industries' SOL holdings have surpassed the combined holdings of the three other largest publicly traded Solana treasury companies (Solana Company, DeFi Development Corp., and Upexi). Following this news, Forward Industries' share price rose over 17% today, while Solana's price also recovered to above $77. (The Block)
SOL up 9% Drives Solana Treasury Stocks Higher, Multiple DATs Rise Over 10% Intraday
: As the price of SOL rose approximately 9% on Friday, the stock prices of several Solana Digital Asset Treasury (DAT) companies surged in tandem. Sol Strategies (STKE) rose as much as 22% intraday, hitting $1.20, leading the gains among other crypto treasury stocks.Other Solana DATs also recorded notable gains. Forward Industries (FWDI) rose up to 12% intraday to $4.03, SkyAI (SKYA) increased 11% to $1.07, DeFi Development Corp. (DFDV) rose 10% to $2.73, and Solana Company (HSDT) also climbed over 10%, reaching a high of $1.65.This rally was also fueled by expectations of index inclusion. Several digital asset treasury companies, including Forward, the largest Solana treasury firm, are set to be added to the Russell indexes after Friday's market close. Two major Ethereum treasury companies, Bitmine (BMNR) and SharpLink (SBET), will also be included in related Russell indexes, while the smaller Solana treasury firm Upexi (UPXI) will join the Russell Microcap.
Forward Industries' Proposal to Acquire Solana Company Parent HSDT Rejected
Odaily reports, Nasdaq-listed Forward Industries has confirmed that it submitted a non-binding proposal to the board of directors of Helius Medical Technologies (HSDT), the parent company of Solana Company, for an all-stock business combination. The HSDT board voted on June 12 to reject the offer and stated that it would not engage in further discussions regarding the transaction.Forward Industries expressed that it is "disappointed and surprised" by this decision, adding that it believes initiating dialogue is in the best interests of both companies and their shareholders. The proposal is indicative in nature, with specific valuation, exchange ratio, and subsequent plans yet to be disclosed.
SOL treasury Forward Industries launches acquisition offer for Brera Holdings, rejected after 30.7% premium
Forward Industries (@FWDind), the largest treasury company on Solana, has submitted a non-binding all-stock acquisition proposal to Brera Holdings PLC (SLMT) (@Solmate). Brera Holdings holds 2.1 million SOL. The offer valued SLMT at a 30.7% premium, but Brera rejected the proposal. (SolanaFloor)