Forward Industries Inc. (NASDAQ: FWDI), a company that builds and manages a large-scale Solana (SOL) treasury, has executed a strategic share repurchase, buying back over 6 million common shares from an institutional investor for a total price of $27.4 million. The move reduces the company’s outstanding shares from 83,142,133 to 76,977,809, effectively returning a meaningful block of shares to its treasury.
The repurchase takes advantage of current low prices, allowing Forward Industries to buy back shares at a discount relative to both its net asset value and market price. According to the company, the buyback was financed through attractively priced debt that allows it to maintain staking rewards on its collateralized digital assets. This structure enables the firm to continue compounding its digital asset holdings while simultaneously reducing share count.
Ryan Navi, Chief Investment Officer of Forward Industries, stated, ‘By repurchasing shares at a discount to both our net asset value and current market price, and by securing attractively priced financing that allows us to maintain staking rewards on our collateral, we are able to return a meaningful block of shares to our treasury while continuing to compound our digital asset holdings. We believe this structure reinforces our disciplined approach to capital allocation and our commitment to maximizing long-term value for Forward shareholders.’
Forward Industries focuses on creating shareholder value through active participation within the Solana ecosystem, deploying assets via on-chain opportunities such as staking and lending. The company is backed by many influential investors in the digital space. The recent buyback aligns with its strategy of optimizing capital allocation while maintaining exposure to digital asset growth.
For more information, visit the company’s website at www.forwardindustries.com. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI.
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