Forward Industries (NASDAQ: FWDI) has provided a mid-quarter update for its fiscal first quarter of 2027, revealing a 2.7% increase in its Solana (SOL) and SOL-equivalent holdings—up 226,396 tokens to 8,727,694 between Sept. 30 and Nov. 9, 2026. The company’s holdings now represent approximately 1.5% of Solana’s circulating supply, with additional SOL acquired at an average cost of $75 per token, including staking rewards assigned no cash cost. SOL per fully diluted share rose 2.3% to 0.0824 from 0.0806 during the same period.
The growth in SOL per share, despite a decline in net asset value to approximately $600.3 million from $870.4 million, underscores Forward’s focus on maximizing shareholder value through its digital asset treasury strategy. The company also reported an increase in institutional debt to $187.5 million from $167.5 million. For more details on Forward Industries’ Solana treasury strategy, visit www.forwardindustries.com.
Forward also highlighted several strategic developments aimed at expanding its SOL holdings and generating additional income through its SOL++ strategy. These include securing a $50 million, two-year credit facility backed by staked SOL; committing up to $50 million to USHP, a tokenized index product tracking U.S. home prices; acquiring a strategic minority interest in Index Industries with additional equity warrants; and adding Barclays as a sales agent alongside Cantor for its at-the-market (ATM) equity offering program. These initiatives reflect the company’s efforts to deepen its involvement in the Solana ecosystem and diversify its revenue streams.
The mid-quarter update comes as Forward Industries continues to position itself as a leading Solana-focused digital asset treasury company. With its mission to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses, Forward aims to strengthen the Solana network while increasing shareholder value. The company’s newsroom, available at https://nnw.fm/FWDI, provides the latest updates on FWDI. For a full view of the press release, visit https://nnw.fm/rlZhm.
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