Forward Industries to raise $25 million to increase SOL holdings

Nasdaq-listed Solana treasury company Forward Industries has signed a securities purchase agreement to issue 3.125 million shares at $8 per share, aiming to raise approximately $25 million. The offering is expected to close around September 24. The company stated that net proceeds will be used to purchase additional SOL to expand its treasury and increase the amount of SOL per fully diluted share.