Forward Industries, Inc. (NASDAQ: FWDI), a Solana-focused digital asset treasury company, announced it has submitted an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC in an all-stock transaction. According to the proposal, Brera shareholders would receive 1.54 newly issued shares of Forward common stock for each Brera share, representing a premium of approximately 30.7% to the volume-weighted average closing price of Brera ordinary shares over the 10 trading days ended June 1, 2026, or $7.19 per share.
Forward Industries stated that the proposal was rejected by Brera's board of directors on June 6, 2026, despite what the company described as a compelling opportunity for shareholders to receive a meaningful premium while maintaining exposure to the Solana ecosystem through a larger and more liquid treasury platform. The company emphasized that it remains open to further discussions and believes the proposed combination would advance the shared objective of increasing value for shareholders and supporting growth within the Solana ecosystem.
The announcement highlights Forward Industries' strategic focus on expanding its presence in the Solana ecosystem. As stated in the press release, Forward Industries is a Solana-focused digital asset treasury company with a strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company launched its digital asset treasury strategy in September 2025 through a private placement transaction supported by industry-leading investors and operating partners, including Galaxy Digital and Jump Crypto.
The proposed acquisition, if completed, would create a larger treasury platform with increased liquidity, potentially benefiting shareholders of both companies. Forward Industries' management believes that combining resources could strengthen the Solana ecosystem and drive shareholder value. However, the rejection by Brera's board indicates that the offer was not deemed sufficient or aligned with Brera's strategic plans.
Investors interested in further details can access the full press release at https://ibn.fm/5Ykvd. For more information about Forward Industries and its Solana treasury strategy, visit forwardindustries.com. Updates on FWDI are available in the company's newsroom at https://ibn.fm/FWDI.
The rejection of the proposal does not necessarily preclude future negotiations. Forward Industries has expressed a willingness to engage in further discussions, signaling that the company remains committed to pursuing growth opportunities within the Solana ecosystem. The outcome of this situation could have implications for both companies' shareholders and the broader digital asset treasury sector.
