Forward Industries Builds World's Largest Solana Treasury Through $1.65 Billion Private Placement

Forward Industries (NASDAQ: FWDI) has outlined significant progress since launching its Solana treasury strategy, positioning itself as a major institutional player in blockchain finance. The company closed a $1.65 billion private placement led by prominent cryptocurrency investment firms Galaxy Digital, Multicoin Capital, and Jump Crypto, providing substantial capital to execute its strategic vision. This funding round represents one of the largest private investments in a company focused on blockchain treasury management and demonstrates growing institutional confidence in Solana's ecosystem.

Operational achievements include launching an institutional-grade Solana validator, the PropAMM automated market maker, and fwdSOL liquid staking token. The company also partnered with Superstate to enable tokenized holding of FWDI shares on the SOL blockchain, creating new pathways for shareholder engagement with digital assets. These developments establish Forward Industries as an active participant in Solana's infrastructure rather than a passive holder of cryptocurrency assets.

Financial metrics reveal the scale of Forward Industries' treasury operations, with the company holding over 6.9 million SOL as of December 1, 2025, generating 6.82–7.01% annual percentage yield through its validator infrastructure. The company remains debt-free with $30 million in operating capital, providing financial stability while pursuing aggressive growth strategies. Chairman Kyle Samani emphasized that Forward has built the world's largest Solana treasury, establishing what he described as an institutional-grade foundation to compound long-term SOL-per-share and deliver sustainable shareholder value.

Corporate governance enhancements include appointing Ryan Navi as Chief Investment Officer and Georgia Quinn as General Counsel, along with forming a 25-member crypto advisory board to guide strategic decisions. The company announced a $1 billion share repurchase program and an at-market equity offering, signaling confidence in its valuation and commitment to shareholder returns. These moves come amid increasing institutional adoption of blockchain technologies and growing recognition of Solana's technical capabilities for high-throughput decentralized applications.

The company's approach centers on creating shareholder value by actively participating within the Solana ecosystem and deploying assets through on-chain opportunities like staking and lending. For more information about Forward Industries' operations and strategy, visit their corporate website at https://www.forwardindustries.com. The full shareholder update containing additional details about the company's progress and future plans is available through the original release on https://www.newmediawire.com.