- Forward Industries, Inc. successfully closed a private placement, raising approximately **$1.65 billion** in gross proceeds.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- The financing was led by **Galaxy Digital**, **Jump Crypto**, and **Multicoin Capital**, who collectively subscribed for over **$300 million**.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- The company intends to use the net proceeds primarily to purchase **SOL** (Solana tokens) for its new cryptocurrency treasury operations.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- Concurrent with the financing, Forward Industries entered into an Asset Management Agreement with **Galaxy Digital Capital Management LP** to manage its Treasury Assets, and a Services Agreement with **Galaxy Digital LP** for operational support.  **[38264_0001683168-25-006838_forward_ex1001.htm:0]** **[38264_0001683168-25-006838_forward_ex1002.htm:0]** **[38264_0001683168-25-006838_forward_8k.htm:1]** **[38264_0001683168-25-006838_forward_8k.htm:2]** 
- **Kyle Samani**, co-Founder and Managing Partner of Multicoin, was appointed Chairman of the Company's Board of Directors.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** **[38264_0001683168-25-006838_forward_8k.htm:4]**

Forward Industries Closes $1.65 Billion Private Placement for Solana Treasury Strategy

- **Forward Industries, Inc.** (NASDAQ: FORD) has successfully closed a private investment in public equity (PIPE) financing, resulting in gross proceeds of approximately **$1.65 billion**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- The company intends to use the net proceeds primarily to purchase **SOL**, the native digital asset of the Solana blockchain, for working capital and to establish its cryptocurrency treasury operations.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- The PIPE financing was led by **Galaxy Digital**, **Jump Crypto**, and **Multicoin Capital**, with these firms collectively subscribing for more than **$300 million**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- Concurrent with the PIPE closing, **Kyle Samani**, co-Founder and Managing Partner of Multicoin Capital, has been appointed **Chairman** of Forward Industries' Board of Directors.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]**  The company initiated its Solana treasury strategy in **September 2025**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_2]**

Forward Industries (FORD)