Forward Industries, Inc. (NASDAQ: FWDI) announced that it acquired more than 500,000 SOL during its fiscal third quarter of 2026 at an average purchase price of approximately $79 per SOL, increasing its Solana treasury to 7.55 million SOL as of June 30, 2026. The company also reported selling 93,642 shares through its at-the-market offering during the quarter while achieving annualized SOL-per-share growth of 36%.
According to the company, its recent inclusion in the Russell 2000 and Russell 3000 indexes enhances its ability to raise capital when its shares trade at a premium to net asset value. This complements its strategy of using fwdSOL as collateral to access liquidity while generating staking yield. Forward reported that SOL per fully diluted share increased to 0.0729 as of June 30 from 0.0669 at the end of the prior quarter, representing a 9% sequential increase.
The company’s digital asset treasury strategy, launched in September 2025 in connection with a private placement transaction supported by industry leading investors including Galaxy Digital and Jump Crypto, focuses on buying, holding, staking, trading, investing in, and growing SOL and SOL related digital assets, protocols and businesses. Forward Industries describes itself as a Solana focused digital asset treasury company, with the mission to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with the Solana network, developers, and related projects to increase shareholder value.
The addition of SOL to the treasury at an average price of $79 per token represents a significant investment, given that SOL has experienced volatility in the broader cryptocurrency market. For investors, the increase in SOL holdings and the growth in SOL per share metrics could signal the company’s confidence in Solana’s long-term value. The use of fwdSOL as collateral to access liquidity while earning staking yield provides a dual benefit, potentially enhancing returns for shareholders.
Forward’s inclusion in the Russell indexes may also improve its visibility among institutional investors, potentially leading to increased demand for its shares. The company’s ability to raise capital when its shares trade at a premium to net asset value could further support its acquisition strategy. As of June 30, 2026, the company held 7.55 million SOL, positioning it as a notable corporate holder of the cryptocurrency.
The announcement underscores the growing trend of publicly traded companies adopting cryptocurrency treasury strategies, particularly within the Solana ecosystem. For the broader industry, Forward Industries’ approach demonstrates how companies can leverage digital assets for both treasury management and yield generation. More details on the company’s Solana treasury strategy are available at forwardindustries.com. For the latest news and updates relating to FWDI, visit the company’s newsroom at https://ibn.fm/FWDI.
