Nasdaq-listed Forward Industries has signed a securities purchase agreement with an institutional investor to raise approximately $25 million in gross proceeds. The company will issue 3.125 million common shares at $8 per share, with the offering expected to close around September 24 and A.G.P./Alliance Global Partners serving as sole placement agent.
Net proceeds from the capital raise will be used exclusively to purchase additional SOL, expanding the company's treasury reserves. Forward Industries stated the acquisition strategy aims to increase the amount of SOL held per fully diluted share for existing shareholders.
Forward Industries Raises $25 Million to Expand Solana Treasury Holdings
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