Forward Industries, Inc. (NASDAQ: FWDI), a company focused on managing a digital asset treasury primarily in Solana (SOL), has completed a significant share repurchase transaction valued at $27.4 million. The company entered into a privately negotiated agreement to buy back 6,164,324 of its shares. This strategic move is designed to reduce the total number of shares outstanding, thereby increasing the proportional amount of Solana assets attributable to each remaining share.
Following the transaction, the company's SOL-per-share metric has increased to 0.0662. The repurchase was financed through a $40 million digital currency loan agreement with Galaxy Digital. This loan is secured by the company's treasury assets and is structured to allow Forward Industries to continue earning staking rewards on its Solana holdings during the loan period. Staking is a process that supports blockchain network operations and generates additional cryptocurrency rewards.
Concurrently, the company is implementing a broader operational efficiency plan. This initiative is expected to reduce selling, general, and administrative (SG&A) expenses by approximately 45% by the third quarter of the current fiscal year. Management states these combined actions are part of ongoing efforts to improve operating efficiency and enhance long-term shareholder value.
Forward Industries describes its core strategy as a Solana-focused digital asset treasury company. Its mission involves buying, holding, staking, trading, and investing in SOL and related digital assets, protocols, and businesses. The company aims to expand and strengthen the Solana ecosystem through these activities. The company's digital asset treasury strategy was launched in connection with a private placement transaction in September 2025 and has support from industry partners including Galaxy Digital and Jump Crypto. For more information on the company's strategy, visit https://forwardindustries.com.
The latest news and updates relating to the company are available in its newsroom at https://ibn.fm/FWDI. The original press release for this announcement can be viewed at https://ibn.fm/Tm2EW. This development is significant as it demonstrates a corporate finance strategy uniquely adapted for the digital asset era, using cryptocurrency-backed financing to execute a capital return program while maintaining income-generating staking operations, all alongside substantial cost-cutting measures aimed at profitability.
