Forward Industries (NASDAQ: FWDI) provided a mid-quarter update on its fiscal first quarter of 2027, reporting that its Solana (“SOL”) and SOL equivalent holdings increased by 226,396 SOL, or 2.7%, to 8,727,694 between Sept. 30 and Nov. 9, 2026. The holdings represent approximately 1.5% of Solana circulating supply, with additional SOL acquired at an average cost of $75 per token, including staking rewards assigned no cash cost. SOL per fully diluted share increased 2.3% to 0.0824 from 0.0806 during the period. The company also reported that its net asset value declined to approximately $600.3 million from $870.4 million, while institutional debt increased to $187.5 million from $167.5 million.
Forward also highlighted several strategic developments, including securing a $50 million, two-year credit facility backed by staked SOL, committing up to $50 million to USHP, a tokenized index product tracking U.S. home prices, and acquiring a strategic minority interest in Index Industries with additional equity warrants. The company also added Barclays as a sales agent alongside Cantor for its at-the-market (“ATM”) equity offering program. Forward intends to use these initiatives to expand its SOL holdings and generate additional income through its SOL++ strategy.
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About Forward Industries
Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’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, Solana developers and Solana related projects in order 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 more information on the Company’s Solana treasury strategy, visit www.forwardindustries.com.
NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI
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