Forward Industries Raises $25 Million to Expand Solana Treasury, Signaling Texas Digital Asset Growth

Forward Industries (NASDAQ: FWDI), a Solana-focused digital asset treasury company, has entered into a securities purchase agreement with an institutional investor for the sale of 3,125,000 common shares at $8 per share, expecting gross proceeds of approximately $25 million before fees and offering expenses. The offering is set to close on or about Sept. 24, 2026, subject to customary closing conditions. Forward plans to use the net proceeds to acquire additional SOL, increasing the size of its SOL treasury while increasing SOL per fully diluted share. A.G.P./Alliance Global Partners is acting as sole placement agent.

This capital raise matters because it directly expands Forward's Solana holdings, reinforcing its strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company's mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to, and investing in the Solana network, developers, and related projects to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto.

For Texas, the news underscores the state's growing importance in digital asset markets. NetworkNewsWire, the platform that distributed the announcement, is based in Austin, Texas, and operates as part of a broader financial communications network. Texas has become a hub for blockchain and crypto companies, and Forward's move to grow its Solana treasury could attract more institutional interest to the region. The offering may also signal confidence in Solana's long-term potential, which could benefit Texas-based developers and projects building on the network.

Investors and industry watchers can access the full press release through https://nnw.fm/xCr7C and find ongoing updates in the company's newsroom at https://nnw.fm/FWDI. More details on Forward's Solana treasury strategy are available at www.forwardindustries.com. The announcement was distributed by NetworkNewsWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. Through InvestorWire, the network provides editorial syndication to 5,000+ outlets, press release enhancement, and social media distribution to millions of followers. The full terms of use and disclaimers are available at https://www.NetworkNewsWire.com/Disclaimer.