Forward Industries (NASDAQ:FORD) announced the purchase of 6.82 million Solana tokens (COIN:SOLUSD) at an average price of $232 per token, spending approximately $1.58 billion.
The funding came from a recently completed $1.65 billion PIPE financing, led by Galaxy Digital, Jump Crypto, and Multicoin Capital. The transaction is considered the largest treasury raise focused exclusively on Solana to date.
According to the company, the tokens were acquired through both open market and on-chain transactions, including a $1 million trade executed via DFlow, Solana network’s low-latency decentralized aggregator.
All SOL acquired so far has been allocated to staking and on-chain applications under active management. Forward aims to increase Solana value per share, distinguishing itself from firms that passively accumulate tokens in their treasury.
The initiative reflects a growing trend on Wall Street. Over 150 companies have announced cryptocurrency purchases totaling nearly $100 billion in 2025, according to consulting firm Architect Partners. BTC, ETH, and SOL remain the preferred assets, though altcoins like HYPE and BNB also appear in some corporate treasuries.
Despite the announcement, Forward’s shares fell about 1.5% during Monday morning trading, September 15, 2025. Forward Industries is not listed on Brazil’s B3 exchange.
Forward Industries stock price
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