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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.
Solana treasury company Forward Industries plans to raise $25 million, aiming to continue increasing its SOL holdings
Odaily News: Nasdaq-listed Solana treasury company Forward Industries announced that it has signed a securities purchase agreement with an institutional investor to issue 3.125 million shares of common stock at $8 per share, with expected gross proceeds of approximately $25 million. The offering is expected to close on or about September 24. Forward Industries stated that the net proceeds after deducting related fees will be used to purchase more SOL to expand the scale of its SOL treasury, while also increasing the amount of SOL corresponding to each fully diluted share. A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering. (Globenewswire)
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)
Binance will list ADBEB and other bStocks spot trading pairs.
Binance announced that it will list multiple bStocks tokenized securities on September 30, 2026, at 20:00 (UTC+8), covering Adobe (ADBEB), Forward Industries (FWDIB), Hewlett Packard (HPEB), PDD Holdings (PDDB), SharonAI (SHAZB), Wendy's (WENB), and Zoom (ZMB), while also enabling corresponding spot trading pairs with USDT. Withdrawal services will open at 21:00 on the same day.
Forward Industries deposited 455,800 SOL tokens into Coinbase Prime, valued at approximately $31.87 million.
According to on-chain analytics platform Lookonchain (@lookonchain), since launching its Solana treasury strategy in September 2025, Forward Industries has spent approximately $1.59 billion to purchase 6.83 million $SOL tokens at an average price of $232.08 per token. The current market value of these 6.83 million SOL tokens is only about $458.6 million, resulting in an unrealized loss exceeding $1.13 billion. After remaining dormant for roughly one month, the company recently deposited 455,784 SOL tokens (worth approximately $31.87 million) into Coinbase Prime.
Binance will list ADBEB and other bStocks spot trading pairs.
Binance announced that it will list multiple bStocks tokenized securities on September 30, 2026, at 20:00 (UTC+8), covering Adobe (ADBEB), Forward Industries (FWDIB), Hewlett Packard (HPEB), PDD Holdings (PDDB), SharonAI (SHAZB), Wendy's (WENB), and Zoom (ZMB), while also enabling corresponding spot trading pairs with USDT. Withdrawal services will open at 21:00 on the same day.
Forward Industries Releases White Paper on Crypto Vault Regulatory Framework, Responding to SEC Commissioner Peirce's Statement
According to a public letter issued by Forward Industries (NASDAQ: $FWDI), General Counsel Georgia Quinn formally responded to SEC Commissioner Hester Peirce's July 22, 2026, statement "Headstands and Summervaults," proposing a three-tier vault regulatory framework centered on the core variable of "manager discretion": • Type I - Use: Developers provide only off-the-shelf software, with users configuring parameters independently, requiring no registration; • Type II - Follow: Drawing on the SEC's 2013 AngelList no-action letter, Angels set strategies for others to follow, subject to conditions such as co-investment and disclosure, and do not need to register as investment advisers; • Type III - Advised: Involves active management, requires registration or an applicable exemption, and recommends joint oversight by the SEC and CFTC to avoid dual compliance conflicts. The article also outlines five baseline requirements applicable to all vaults, including conflict of interest disclosure, public code audits, exclusion of disqualified persons, application of anti-fraud rules, and state law preemption. The article specifically notes that Peirce's statement did not mention the CFTC, and cross-agency regulatory issues regarding mixed-asset vaults urgently require the SEC and CFTC
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
SkyAI Announces $3 Per Share Tender Offer, Rejects Forward Industries' Acquisition Proposal
According to GlobeNewswire, SkyAI (Nasdaq: SKYA) announced plans to launch a tender offer on October 15, 2026, to repurchase up to 95% of its outstanding common shares and various pre-funded warrants at a cash price of $3.00 per share and per pre-funded warrant, with a maximum aggregate purchase amount of approximately $201 million. The offer price represents a 65% premium over the October 9 closing price and a premium of over 100% over the 60-day volume-weighted average price. The tender offer period will last 10 business days, subject to conditions including a minimum 50% effective tender of each class of shares and a SOL price maintained above $100 throughout the offer period. The company will fund the purchase with cash and proceeds from the sale of SOL, for which it currently holds approximately 1 million tokens. Meanwhile, SkyAI’s board of directors rejected Forward Industries’ proposed stock swap plan of 0.306 shares of FWDI per SkyAI share, concluding that the proposal undervalues the company and is not in the best interests of shareholders.
SkyAI Plans $201 Million Tender Offer, Rejects Forward Industries Acquisition Proposal
Odaily News: Solana treasury company SkyAI (SKYA) has announced plans to launch a cash tender offer to acquire up to 95% of its outstanding common shares and warrants at $3 per share. The tender offer covers up to approximately 46.4 million common shares and approximately 20.7 million warrants, with a maximum total acquisition amount of approximately $201 million. The company expects to fund the acquisition using existing cash and proceeds from the sale of its Solana assets. SkyAI stated that the tender offer is expected to commence on Thursday and remain open for 10 business days, but may be extended or terminated early. Additionally, the SkyAI board of directors has rejected an unsolicited non-binding all-stock acquisition proposal from Forward Industries (FWDI). The proposal sought to exchange each SkyAI share for 0.306 shares of Forward Industries stock, but the SkyAI board believes the stock-swap proposal undervalues the company.
Forward Industries increased its holdings by approximately 949,000 SOL in the fourth fiscal quarter, raising total holdings to 8.5 million.
Solana treasury company Forward Industries (NASDAQ: FWDI) disclosed that as of September 30, the company held approximately 8.5013 million SOL and SOL-equivalent assets, an increase of 948,600 SOL from the end of June, representing a growth of approximately 13%, or roughly 1.4% of Solana's circulating supply. The average cost per newly acquired SOL this quarter was approximately $83. During the same period, fully diluted SOL per share increased from 0.0730 to 0.0806, a quarterly growth of 10.4%. The SOL treasury, valued at the period-end price of $118.06, was worth approximately $1.004 billion, and the company's net asset value was approximately $870 million. These figures are currently preliminary and unaudited.
Binance will list ADBEB and other bStocks spot trading pairs.
Binance announced that it will list multiple bStocks tokenized securities on September 30, 2026, at 20:00 (UTC+8), covering Adobe (ADBEB), Forward Industries (FWDIB), Hewlett Packard (HPEB), PDD Holdings (PDDB), SharonAI (SHAZB), Wendy's (WENB), and Zoom (ZMB), while also enabling corresponding spot trading pairs with USDT. Withdrawal services will open at 21:00 on the same day.
Solana treasury company Forward Industries plans to raise $25 million, aiming to continue increasing its SOL holdings
Odaily News: Nasdaq-listed Solana treasury company Forward Industries announced that it has signed a securities purchase agreement with an institutional investor to issue 3.125 million shares of common stock at $8 per share, with expected gross proceeds of approximately $25 million. The offering is expected to close on or about September 24. Forward Industries stated that the net proceeds after deducting related fees will be used to purchase more SOL to expand the scale of its SOL treasury, while also increasing the amount of SOL corresponding to each fully diluted share. A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering. (Globenewswire)
Forward Industries Releases White Paper on Crypto Vault Regulatory Framework, Responding to SEC Commissioner Peirce's Statement
According to a public letter issued by Forward Industries (NASDAQ: $FWDI), General Counsel Georgia Quinn formally responded to SEC Commissioner Hester Peirce's July 22, 2026, statement "Headstands and Summervaults," proposing a three-tier vault regulatory framework centered on the core variable of "manager discretion": • Type I - Use: Developers provide only off-the-shelf software, with users configuring parameters independently, requiring no registration; • Type II - Follow: Drawing on the SEC's 2013 AngelList no-action letter, Angels set strategies for others to follow, subject to conditions such as co-investment and disclosure, and do not need to register as investment advisers; • Type III - Advised: Involves active management, requires registration or an applicable exemption, and recommends joint oversight by the SEC and CFTC to avoid dual compliance conflicts. The article also outlines five baseline requirements applicable to all vaults, including conflict of interest disclosure, public code audits, exclusion of disqualified persons, application of anti-fraud rules, and state law preemption. The article specifically notes that Peirce's statement did not mention the CFTC, and cross-agency regulatory issues regarding mixed-asset vaults urgently require the SEC and CFTC