Forward Industries Shares Jump After Private Investment for Solana
By Chris Wack
Forward Industries shares were 85% higher, at $30.22, after the company received $1.65 billion in cash and stablecoin commitments for a private investment in public equity offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
The stock hit its 52-week high of $31.97 just after the market opened, and is up 736% in the past 12 months.
The company said the investment will initiate a Solana-focused digital asset treasury strategy.
C/M Capital Partners, one of the company's largest existing shareholders, is also a participant in this transaction.
Galaxy, Jump Crypto, and Multicoin will provide both capital and strategic support to help Forward Industries structure and execute its Solana treasury strategy.
Upon the closing of the PIPE, Kyle Samani, co-founder and managing partner of Multicoin, is expected to become chairman of the board of directors.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 08, 2025 09:58 ET (13:58 GMT)
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