Forward Industries Doubles Down on Solana with $83M in New Token Purchases

Forward Industries, a Nasdaq-listed company, continues to buy up Solana tokens, adding 948,601 SOL to its treasury in the fiscal fourth quarter of 2026. This brings its total holdings to 8,501,298 SOL, roughly 1.4% of Solana's circulating supply.

The company's Solana holdings have increased 13% from the previous quarter, with an average purchase price of $83 per SOL. The latest batch of purchases was valued at $118.06 at the end of the quarter, giving Forward some cushion against potential losses.

Forward's institutional debt has also increased, reaching $167.5 million from $105 million in the previous quarter. The company raised an additional $25 million through a registered direct stock offering in September 2026.

The company's Solana per fully diluted share metric rose 10.4% over the quarter, with an annualized growth rate of approximately 42%. This suggests that Forward's buying is outpacing dilution, at least for now.