Forward Industries Expands Solana Treasury by Over 500k SOL in Fiscal Q3 2026; Now Holds Over 7.5M SOL

The Company increased SOL-per-fully diluted share by 36% annualized to 0.0729 vs. 0.0669 prior quarter 

AUSTIN, TX, July 01, 2026 (GLOBE NEWSWIRE) -- Forward Industries, Inc. (NASDAQ: FWDI) (the “Company” or “Forward Industries”), the leading Solana treasury company, today announced that it acquired over 500,000 SOL during fiscal Q3 of 2026 at an average purchase price of approximately $79 per SOL, increasing its total Solana treasury to 7.55M SOL as of June 30, 2026. During fiscal Q3 of 2026, the Company sold 93,642 shares of common stock as part of its At The Market offering while delivering an annualized SOL-per-share growth of 36%, demonstrating its ability to raise capital from public-markets in an accretive manner for shareholders.

As the largest Solana treasury company, Forward is uniquely positioned following its inclusion in the Russell 2000 and Russell 3000 Indexes to raise capital in public markets when its shares trade at a premium to net asset value (NAV). This access to public-market capital is another tool Forward can use alongside its industry-leading cost of capital, which the Company has established using fwdSOL as collateral with institutional partners. This structure gives Forward the ability to access liquidity while generating positive carry by borrowing against its SOL at a lower cost of capital than its staking yield between 6.4% to 7.3%.

Forward’s common shares outstanding as of June 30th, 2026 was 73,846,883 compared to 76,314.617 as of March 31, 2026, and Forward’s SOL-per-fully diluted share has grown to 0.0729 as of June 30, 2026 from 0.0669 as of March 31, 2026.

Ryan Navi, Chief Investment Officer of Forward Industries, stated, “Our mandate is simple: maximize SOL per share and create long-term shareholder value. Our execution this quarter demonstrates our ability to employ multiple capital formation strategies to acquire additional SOL in a highly accretive manner. By repurchasing shares when Forward trades at a discount to NAV and issuing equity when our shares trade at a premium, we dynamically allocate capital in a way that compounds SOL per share and enhances long-term intrinsic value. Our recent inclusion in the Russell 2000 and Russell 3000 further expands our access to institutional capital and broadens our investor base, creating another efficient avenue to fund SOL accumulation on terms that benefit our existing shareholders.”

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FWDI) is a Solana focused digital asset treasury company, with the strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL related digital assets, protocols and businesses. Forward’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to and investing in the Solana network, Solana developers and Solana related projects in order to increase shareholder value. In connection with a private placement transaction in September 2025, Forward launched a digital asset treasury strategy supported by industry leading investors and operating partners including Galaxy Digital and Jump Crypto. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company’s plan for value creation and strategic advantages, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the digital asset treasury strategy (including the at-the-market equity offering program and the share repurchase program); changes in business, market, financial, political and regulatory conditions; risks relating to the Company’s operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company’s common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.

Contacts

Media Contact
comms@forwardindustries.com

Investor Relations Contact
Sean Mansouri, CFA / Aaron D’Souza
Elevate IR
(720) 330-2829
ir@forwardindustries.com