Forward Industries (Nasdaq: FWDI) has announced a strategic move to repurchase $27.4 million of its own shares using a short-term loan from Galaxy Digital. The repurchase involves approximately 6.16 million shares, reducing the company's outstanding shares by about 7%. This initiative is part of Forward's ongoing Solana-centric treasury strategy, aimed at enhancing its SOL per share metric. To facilitate the share buyback, Forward secured a $40 million digital asset-backed loan from Galaxy Digital, with an interest rate of 3.4% and a term of less than five months. The loan is collateralized by pledged SOL, which currently yields an annualized return of 6.2%. Despite a significant decline in both its stock and SOL prices, Forward continues to expand its Solana holdings, now totaling over 7 million SOL valued at approximately $616 million, making it the largest corporate holder of SOL. The company also anticipates a 45% reduction in core SG&A costs over the next few quarters.