Forward Industries plans $25 million raise to increase SOL treasury holdings

Nasdaq-listed Solana treasury company Forward Industries has entered into a securities purchase agreement with an institutional investor to raise approximately $25 million. The company plans to issue 3.125 million shares of common stock at $8 per share, with the offering expected to close around September 24. The net proceeds will be used to purchase additional SOL to expand its treasury and increase the amount of SOL held per fully diluted share.