Forward Industries, Inc. (NASDAQ: FWDI), a Solana treasury company, reported a significant increase in its SOL and SOL equivalent holdings during its fiscal fourth quarter ended Sept. 30, 2026. According to the company's announcement, its holdings grew by 948,601 SOL, or 13%, reaching a total of 8,501,298 SOL. This amount represents approximately 1.4% of the circulating supply of Solana, underscoring the company's substantial position in the digital asset. The SOL added during the quarter was acquired at an average cost of $83 per SOL, reflecting a strategic accumulation amid market conditions.
The growth in holdings translated into a notable increase in SOL per fully diluted share, which rose 10.4% quarter over quarter to 0.0806 from 0.0730. This metric is crucial for shareholders as it indicates the company's ability to enhance value on a per-share basis. Additionally, the preliminary, unaudited net asset value surged to approximately $870.4 million as of Sept. 30, up from approximately $481.3 million as of June 30. This sharp rise in net asset value highlights the company's success in growing its treasury and could signal potential returns for investors.
The importance of this announcement extends beyond Forward Industries. As a Solana-focused digital asset treasury company, Forward's strategy involves buying, holding, staking, trading, investing in, and growing SOL and SOL-related digital assets, protocols, and businesses. The company aims to expand and strengthen the Solana ecosystem by acquiring and staking SOL and engaging with, providing tools to, and investing in the Solana network, developers, and related projects to increase shareholder value. This approach positions Forward as a key player in the institutional adoption of Solana, which could influence broader market dynamics.
In connection with a private placement transaction in September 2025, Forward launched its digital asset treasury strategy, supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto. This backing lends credibility to the company's initiatives and may encourage other institutional investors to consider similar strategies. For more information on the Company's Solana treasury strategy, visit www.forwardindustries.com.
The latest news and updates relating to FWDI are available in the company's newsroom at https://ibn.fm/FWDI. This resource provides investors with timely information to track the company's progress.
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