The company disclosed that its latest Solana stash was secured at an average purchase price of $79 per token. To help fund these acquisitions, Forward Industries utilized an at-the-market offering, selling 93,642 common shares throughout the quarter. Management reported that this strategy fueled a 36% annualized growth in SOL per fully diluted share, which rose to 0.0729 from 0.0669 in the previous period.
In section Market Quotes
Forward Industries Stock Climbs After Solana Treasury Expansion
Shares of Forward Industries jumped 17% to $4.95 on Wednesday morning after the company revealed it aggressively expanded its digital-asset treasury during the fiscal third quarter. By acquiring over 500,000 SOL tokens, the firm pushed its total holdings to 7.55 million units as of June 30.
Beyond direct token accumulation, the company is leveraging its recent inclusion in the Russell 2000 and Russell 3000 indexes to broaden its reach to public-market capital. Forward Industries also noted that its current financial architecture, which uses fwdSOL as collateral with institutional partners, provides a path to necessary liquidity while maintaining positive carry.
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