Forward Industries adds 500K Solana tokens
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- Forward Industries increased its treasury by more than 500,000 Solana tokens, bringing total holdings to 7.55 million SOL.
- The Nasdaq-listed company said SOL per fully diluted share rose 36% on an annualised basis during the quarter, while its shares gained more than 10%.
- The company said it will continue using equity issuance, staking and financing strategies to increase SOL per share despite earlier accounting losses.
Forward Industries acquired more than 500,000 Solana (CRYPTO:SOL) tokens during fiscal third quarter 2026, increasing its treasury holdings to 7.55 million SOL as of June 30.
The company said it purchased the additional tokens at an average price of about US$79 each, while SOL per fully diluted share increased to 0.0729 from 0.0669 in the previous quarter after selling 93,642 common shares through its at-the-market programme.
“Our mandate is simple: maximise SOL per share and create long-term shareholder value,” said Forward Industries chief investment officer Ryan Navi.
Forward Industries said it plans to continue increasing SOL per share through equity issuance when shares trade above net asset value, share buybacks when they trade below net asset value and borrowing against staked SOL collateral, with staking yields currently estimated between 6.4% and 7.3%.
Following the announcement, Forward Industries shares rose more than 10% to about US$4.70 during trading after reaching an intraday high of US$5.04.
The company previously reported a US$585.6 million quarterly net loss, including a US$560.2 million fair-value loss on digital assets and a US$33 million impairment charge under United States accounting rules as Solana prices declined.
Forward Industries launched its Solana treasury strategy in September 2025 and said investors should continue monitoring SOL per fully diluted share as the key performance metric, although the value of its treasury remains dependent on Solana prices, staking income, borrowing costs and shareholder dilution.
At the time of reporting, Solana price was $77.67.
