Solana News Today:

Forward Industries, Inc. (NASDAQ: FORD) has secured $1.65 billion in cash and stablecoin commitments through a private investment in public equity (PIPE) offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This transaction marks the largest Solana-focused digital asset treasury company raise to date and signals a strategic shift for Forward Industries to align with the Solana blockchain ecosystem. C/M Capital Partners, one of the company’s largest shareholders, is also participating in the offering. The capital will be used to develop an active Solana treasury strategy, with the goal of positioning Forward Industries as a leading publicly traded participant in the ecosystem.

The lead investors—Galaxy Digital, Jump Crypto, and Multicoin Capital—have committed not only capital but also strategic support to help Forward Industries execute its Solana-focused initiatives. Galaxy will leverage its extensive experience in digital assets to offer trading, lending, staking, and blockchain infrastructure services. Jump Crypto, which has been a core contributor to Solana’s infrastructure, is developing a new validator client called Firedancer to enhance the network’s performance. Multicoin Capital, which led Solana’s seed round in 2018, has been a long-term investor and will continue to provide strategic guidance.

Upon closing the PIPE, Kyle Samani, Managing Partner of Multicoin Capital, is expected to become Chairman of the Board of Directors. Samani has been a vocal advocate for Solana and believes the current market underestimates its potential. He emphasized that an institutional-scale Solana treasury could generate differentiated value and increase SOL per share at a faster pace than passive holding. Samani also noted the growing institutional interest in Solana and the opportunities for value creation through sophisticated onchain strategies.

In addition to Samani, Galaxy’s President and Chief Investment Officer, Chris Ferraro, and Jump Crypto’s Chief Investment Officer, Saurabh Sharma, are expected to join as Board observers. Both Ferraro and Sharma bring extensive experience in Solana investing and infrastructure development. Mike Novogratz, CEO of Galaxy, expressed confidence in Forward Industries’ ability to become a leading publicly traded company in the Solana ecosystem, noting the strength of the leadership team and the strategic value of the partnership.

The company has engaged Cantor Fitzgerald & Co. as lead placement agent and Galaxy Investment Banking as co-placement agent and financial advisor. Galaxy and Jump Crypto are also contributing to the technical infrastructure of the Solana network. Galaxy recently shifted $100 million from Ethereum to Solana, signaling a strategic repositioning. Jump Crypto’s Firedancer validator client is expected to enhance network performance and scalability, supporting Forward Industries’ institutional-scale operations.

Forward Industries’ move into the Solana ecosystem reflects a broader trend in the digital asset space, where traditional companies are repositioning as institutional participants in blockchain networks. For instance, other firms like Strategy (MSTR) have adopted Bitcoin treasuries, while the former 180 Life Sciences rebranded as ETHZilla to focus on Ether. Forward Industries’ strategic pivot aims to capitalize on Solana’s high-performance blockchain to generate onchain returns and drive shareholder value.

The Solana price has shown resilience, trading at around $214 as of the latest data. Institutional developments, including the Nasdaq listing of SOL Strategies under the ticker STKE, have further supported market sentiment. The listing is expected to improve liquidity and attract deeper institutional capital, which aligns with Forward Industries’ strategic goals. As the Solana ecosystem continues to evolve, the role of institutional participants like Forward Industries could become increasingly significant in driving adoption and expanding the network’s utility.

Source:

[1] Forward Industries, Inc. Announces $1.65 Billion Private Placement in Cash and Stablecoin Commitments Led by Galaxy Digital, Jump Crypto and Multicoin Capital to Initiate Solana Treasury Strategy (https://www.businesswire.com/news/home/20250907677362/en/Forward-Industries-Inc.-Announces-%241.65-Billion-Private-Placement-in-Cash-and-Stablecoin-Commitments-Led-by-Galaxy-Digital-Jump-Crypto-and-Multicoin-Capital-to-Initiate-Solana-Treasury-Strategy)

[2] Forward Industries Stock Doubles as Firm Pivots to Being Solana Treasury (https://www.investopedia.com/forward-industries-stock-doubles-as-firm-pivots-to-being-solana-treasury-11805197)

[3] Forward Industries Stock Soars Following $1.65 Billion Solana Treasury Move (https://finance.yahoo.com/news/forward-industries-stock-soars-following-150658116.html)