Forward Industries, Inc. (NASDAQ: FWDI), a leading Solana treasury company, announced it has entered into a privately negotiated agreement to repurchase 6,164,324 shares for $27.4 million. The transaction reduces shares outstanding and increases SOL-per-share to 0.0662. The repurchase is being financed through a $40 million digital currency loan agreement with Galaxy Digital, secured by treasury assets, which allows the company to continue earning staking rewards on its SOL holdings.
In addition to the share repurchase, Forward Industries has implemented a broader cost reduction plan expected to lower selling, general, and administrative (SG&A) expenses by approximately 45% by fiscal Q3. These moves are part of the company's efforts to improve operating efficiency and enhance long-term shareholder value. The company's strategy focuses on buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses.
Forward Industries launched its digital asset treasury strategy in September 2025 through a private placement, supported by industry leaders including Galaxy Digital and Jump Crypto. The company's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL, engaging with the Solana network, and investing in Solana developers and projects. For more information on Forward Industries' Solana treasury strategy, visit forwardindustries.com.
The repurchase agreement reflects the company's confidence in its treasury strategy and its commitment to delivering value to shareholders. By reducing the share count and increasing SOL-per-share, Forward Industries aims to provide greater exposure to Solana's growth potential for its investors. The digital currency loan from Galaxy Digital, secured by treasury assets, allows the company to maintain its staking operations, which generate additional returns on its SOL holdings.
Forward Industries' cost reduction plan is expected to significantly lower operating expenses, contributing to improved financial performance. The company anticipates that these combined actions will position it for sustainable growth and long-term shareholder value creation. Investors can find the latest news and updates regarding FWDI in the company's newsroom at https://ibn.fm/FWDI.
