Forward Industries raised $1.65 billion! Galaxy, Jump, and Multicoin join forces to enter the SOL reserve battlefield.

Forward Industries announced an investment plan worth up to $1.65 billion, aiming to establish the world's largest Solana (SOL) reserve strategy company, backed by cash and stablecoins from Galaxy Digital, Jump Crypto, and Multicoin Capital. After the announcement, FORD's stock price surged by up to 87%, and PIPE investors achieved a return rate of 36%. However, due to strict lock-up restrictions, significant selling pressure is not expected in the short term.

Private placement fundraising of 1.65 billion USD, with a lock-up period.

Forward Industries will issue a total of 89,189,189 shares of common stock at $18.50 per share, raising $1.65 billion, with payment methods in USD cash, USDT, and USDC, completed through PIPE ( Private Investment in Public Equity, private placement ).

To prevent investors from immediately dumping shares after receiving them, causing significant price volatility, PIPE issuances come with a lock-up restriction and are unlocked in two batches. The lock-up period may last up to one year, and the company's directors and executives also have a 180-day lock-up period.

( BitMine exchanges coins for stocks with a profit of 34 times and 99% no lock-up restriction, how is the valuation calculated? )

Three major cryptocurrency institutions have fully entered, providing technical and investment strategy support.

The leading investors in this fundraising round include Galaxy Digital, Jump Crypto, Multicoin Capital, and the existing largest shareholder C/M Capital Partners also participated.

The raised funds will be used to establish a SOL reserve asset strategy, which is not just to passively hold SOL, but to actively manage it by participating in network validation nodes through staking (Staking) to earn rewards and interest through lending, as well as to create additional returns using DeFi protocols.

Kyle Samani, co-founder of Multicoin Capital, will serve as the Chairman of the Board, with Chris Ferraro, President and CIO of Galaxy Digital, and Saurabh Sharma, CIO of Jump Crypto, serving as Board Observers.

Galaxy Digital is responsible for asset management, staking, lending, and trading strategies, Jump Crypto provides infrastructure support such as the Firedancer validator client (, while Multicoin Capital offers investment strategies, governance, and ecosystem integration advice.

Forward Industries is expected to become the largest SOL reserve strategy company.

If Forward Industries invests all of its $1.65 billion in funds, it is expected to become the largest Solana reserve strategy company. The current largest holder is Upexi Inc., which holds 2,000,518 SOL, followed closely by DeFi Development Corp., which recently increased its holdings by 196,141 SOL, bringing its total to 1,988,170 SOL.

FORD has surged 87% in recent days, with PIPE investors achieving a return rate of 36%.

Forward Industries ) stock code FORD( rose sharply after the news was announced, jumping from last Friday's $13.49 to a high of $31.97. Although it fell to $25.2 yesterday, the increase was still as high as 87%. The return rate for PIPE investors also reached 36%, but due to strict lock-up restrictions, it is expected that there will not be significant selling pressure in the short term.

Bitwise is optimistic about SOL, and Samani is expected to become the best signal caller.

Bitwise's Chief Investment Officer Matt Hougan believes that the Solana season has arrived, with all factors in place for Solana to achieve epic success by the end of the year. One reason for this includes the numerous SOL reserve companies driving the coin price higher, particularly Forward Industries.

He believes that Forward Industries has appointed Multicoin Capital co-founder Kyle Samani as chairman. Multicoin is not only one of the earliest investors in Solana, but Samani is also one of the most articulate and steadfast supporters. Hougan believes that Samani has the opportunity to play the same role in promoting the Solana concept as Michael Saylor of Bitcoin reserve company MicroStrategy )Strategy( and Tom Lee of Ethereum reserve company BitMine, which will help drive the flywheel effect of investor demand.

)Solana season officially begins! Bitwise: An epic explosion is expected by the end of the year (

This article states that Forward Industries raised 1.65 billion dollars! Galaxy, Jump, and Multicoin join forces to enter the SOL reserve battlefield, first appearing in Chain News ABMedia.