Solana treasury company Forward Industries plans to raise $25 million, aiming to continue increasing its SOL holdings

Odaily News: Nasdaq-listed Solana treasury company Forward Industries announced that it has signed a securities purchase agreement with an institutional investor to issue 3.125 million shares of common stock at $8 per share, with expected gross proceeds of approximately $25 million. The offering is expected to close on or about September 24. Forward Industries stated that the net proceeds after deducting related fees will be used to purchase more SOL to expand the scale of its SOL treasury, while also increasing the amount of SOL corresponding to each fully diluted share. A.G.P./Alliance Global Partners is acting as the sole placement agent for this offering. (Globenewswire)