Forward Industries Executes $27.4 Million Share Repurchase to Increase SOL-Per-Share Ratio

Forward Industries, Inc. (NASDAQ: FWDI) has entered into a privately negotiated agreement to repurchase 6,164,324 shares for $27.4 million, a strategic move designed to reduce shares outstanding and increase the company's SOL-per-share ratio to 0.0662 following the transaction. This share repurchase is being financed through a $40 million digital currency loan agreement with Galaxy Digital, which is secured by treasury assets while allowing the company to continue earning staking rewards on its holdings. The transaction represents a significant step in the company's ongoing efforts to enhance long-term shareholder value through focused treasury management.

The share repurchase initiative is part of a broader strategic plan that includes a comprehensive cost reduction program expected to lower selling, general and administrative (SG&A) expenses by approximately 45% by fiscal Q3. These measures are aimed at improving operating efficiency and optimizing the company's financial structure. By reducing the number of shares outstanding, Forward Industries increases the proportional ownership of SOL assets per share, effectively concentrating the value of its Solana treasury holdings among fewer shares and potentially increasing the value proposition for remaining shareholders.

Forward Industries operates as a Solana-focused digital asset treasury company with a strategy centered on acquiring, holding, staking, trading, and investing in SOL and SOL-related digital assets, protocols, and businesses. The company's mission involves expanding and strengthening the Solana ecosystem through active engagement with network developers and related projects. The company launched its digital asset treasury strategy in September 2025 following a private placement transaction supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto. Additional information about the company's Solana treasury strategy is available at https://forwardindustries.com.

The financial structuring of this transaction allows Forward Industries to leverage its existing treasury assets while maintaining its staking operations, which generate ongoing rewards. This approach demonstrates how digital asset companies can utilize their cryptocurrency holdings as collateral for traditional financing arrangements while continuing to participate in network validation activities. The combination of share repurchases, cost reductions, and strategic financing represents a multi-faceted approach to corporate governance in the digital asset sector, where treasury management has become increasingly sophisticated as companies seek to maximize value from their cryptocurrency holdings.

Investors seeking additional information about Forward Industries can access the latest news and updates in the company's newsroom at https://ibn.fm/FWDI. The broader context of this announcement reflects ongoing evolution in how publicly-traded companies manage digital asset treasuries, with Forward Industries positioning itself as a leader in this emerging space through strategic financial engineering and operational efficiency initiatives designed to create sustainable shareholder value in the rapidly developing cryptocurrency ecosystem.