New notification to SEC from the crypto treasury company acquiring Solana

Forward Industries, backed by Galaxy Digital, Jump Crypto, and Multicoin Capital, is preparing to acquire more Solana. In its latest statement, the company indicated that it wants to raise more capital through a $4 billion equity issuance and sale and to acquire more Solana.

The stock issuance and sales, which will take place gradually, will be conducted based on the market price of the shares. The company's chairman, Kyle Samani, stated that selling the shares gradually and based on the market price will provide them with flexibility in raising capital.

The statement did not provide details regarding the timing and amount of the share issuance. It was also not specified what portion of the capital to be obtained would be allocated to the purchase of Solana. The share sales will be conducted through the Cantor Fitzgerald firm, which has been managed by U.S. Secretary of Commerce Howard Lutnick for many years.

As a reminder, the company had purchased a total of 1.6 billion dollars worth of SOL last week. The average purchase price was also 232 dollars.

Recently, many small-scale companies that made cryptocurrency purchases ranging from Dogecoin to Worldcoin and Solana, along with Bitcoin and Ether, have been acquired by large funds and transformed into crypto treasury companies. Forward Industries, which is listed on Nasdaq, actually operated as a technology design firm.

Published: September 17, 2025 14:32Last Updated: September 17, 2025 14:36