Forward Industries (NASDAQ: FWDI) announced it acquired more than 500,000 SOL during its fiscal third quarter of 2026 at an average purchase price of approximately $79 per SOL, increasing its Solana treasury to 7.55 million SOL as of June 30, 2026. The company also sold 93,642 shares through its at-the-market offering during the quarter while achieving annualized SOL-per-share growth of 36%.
The company said its recent inclusion in the Russell 2000 and Russell 3000 indexes enhances its ability to raise capital when its shares trade at a premium to net asset value, complementing its strategy of using fwdSOL as collateral to access liquidity while generating staking yield. Forward reported SOL per fully diluted share increased to 0.0729 as of June 30 from 0.0669 at the end of the prior quarter.
This strategic move underscores Forward Industries' transformation into a Solana-focused digital asset treasury company. The firm aims to buy, hold, stake, trade, invest in, and grow SOL and related digital assets, protocols, and businesses. By increasing its SOL holdings, Forward positions itself to benefit from the growth of the Solana ecosystem while generating yield through staking.
The inclusion in the Russell indexes is a significant milestone, providing enhanced visibility and credibility among institutional investors. It also offers a more efficient mechanism for capital raising when the company's stock trades at a premium to its net asset value, allowing Forward to issue shares at favorable prices to fund further SOL acquisitions.
Forward's strategy involves using its SOL holdings as collateral to access liquidity without selling the underlying asset, preserving exposure to potential price appreciation. The staking yield provides additional returns, contributing to the company's objective of increasing shareholder value.
According to the company, the annualized SOL-per-share growth of 36% indicates effective capital deployment and accretion for shareholders. The increase in SOL per fully diluted share from 0.0669 to 0.0729 demonstrates that the company is growing its digital asset treasury faster than its share count.
Forward Industries' approach reflects a broader trend of companies incorporating digital assets into their treasury management strategies. By focusing on Solana, the company aligns itself with one of the leading blockchain platforms, known for its high throughput and low transaction costs. This strategic bet could pay off if Solana continues to gain adoption and its token appreciates.
For more information on Forward Industries and its Solana treasury strategy, visit forwardindustries.com.
