Forward Industries Raises $25 Million for Solana Treasury Expansion

Forward Industries is set to expand its Solana (SOL) treasury after announcing a $25 million capital raise. The company will issue 3.125 million common shares priced at $8 each, with the institutional investor party to the deal entering into a securities purchase agreement.

The net proceeds from this offering will be used to buy more SOL tokens and grow the company's existing crypto treasury holdings. This move is expected to boost the amount of SOL held per fully diluted share, although it will also dilute shareholder ownership due to the issuance of new shares.

Forward Industries plans to use the funds to expand its SOL treasury and increase its SOL holdings, positioning itself among a smaller group of firms treating Solana as a core treasury asset. The offering is expected to close on or around September 24, 2026.