Forward Industries Completes $1.65 Billion Solana Treasury Investment Deal
Forward Industries (FORD) has finalized a $1.65 billion private investment in public equity (PIPE) deal to enhance its corporate crypto treasury, focusing on Solana. The investment is led by Galaxy Digital, Jump Crypto, and Multicoin Capital, contributing over $300 million.
Key details include:
- Multicoin co-founder Kyle Samani appointed as chairman of the board
- Galaxy’s Chris Ferraro and Jump Crypto’s Saurabh Sharma to serve as observers
- The company’s stock surged by 15% during pre-market trading
- Other investors include Bitwise Asset Management, Borderless Capital, and SkyBridge Capital
- Solana-focused firms hold over $1.4 billion in SOL collectively
This initiative aligns with trends among public companies adopting digital asset treasuries, similar to strategies used by notable investors like Michael Saylor.