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

Forward Industries Inc. (NASDAQ: FWDI) has made substantial progress since implementing its Solana treasury strategy, culminating in what Chairman Kyle Samani describes as the world's largest Solana treasury. The company secured a $1.65 billion private placement led by prominent investment firms Galaxy Digital, Multicoin Capital, and Jump Crypto, providing significant capital to fuel its blockchain initiatives. This financial backing has enabled Forward Industries to build an institutional-grade foundation designed to compound long-term SOL-per-share growth while maintaining a debt-free balance sheet with $30 million in operating capital.

Operational achievements include the launch of several key blockchain products and services. The company deployed an institutional-grade Solana validator that currently generates 6.82–7.01% APY on the company's substantial SOL holdings, which exceeded 6.9 million tokens as of December 1, 2025. Forward Industries also introduced PropAMM, an automated market maker, and fwdSOL, a liquid staking token that enhances liquidity within the Solana ecosystem. These technical developments demonstrate the company's commitment to building infrastructure rather than simply holding cryptocurrency assets.

Strategic partnerships have further strengthened Forward Industries' position in the blockchain space. The company collaborated with Superstate to enable tokenized holding of FWDI shares on the SOL blockchain, creating new avenues for shareholder engagement and investment. This initiative represents a significant step toward bridging traditional equity markets with blockchain technology, potentially increasing accessibility and liquidity for investors. Additional information about the company's broader strategy and operations can be found at https://nnw.fm/FWDI.

Corporate governance enhancements accompanied these operational developments. Forward Industries appointed Ryan Navi as Chief Investment Officer and Georgia Quinn as General Counsel, bringing experienced leadership to guide the company's financial and legal strategies. The company also established a 25-member crypto advisory board comprising industry experts who will provide guidance on blockchain technology implementation and investment opportunities. These appointments reflect the company's commitment to building institutional-grade governance structures.

Shareholder value initiatives include a $1 billion share repurchase program and an at-the-market equity offering, demonstrating management's confidence in the company's long-term prospects. The combination of revenue-generating blockchain infrastructure, strategic partnerships, and shareholder-friendly capital allocation creates what management believes is a sustainable model for value creation. As Forward Industries continues to execute its Solana treasury strategy, it aims to establish itself as a leader in blockchain finance while delivering consistent returns to shareholders through both operational performance and strategic asset management.