Forward Industries, Inc. announced a $1.65 billion private investment in public equity (PIPE) offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
The investment aims to initiate a Solana-focused digital asset treasury strategy, aligning the company with the fast-growing Solana ecosystem.
The private placement is considered the largest Solana-focused digital asset treasury company raise to date.
Lead Investors
Galaxy Digital, Jump Crypto, and Multicoin Capital are the lead investors providing capital and strategic support to Forward Industries.
Solana Strategy
The strategy to build an active Solana treasury program demonstrates the company's conviction in the long-term potential of Solana (SOL) to create shareholder value.
Board Chairman
Kyle Samani, the Managing Partner of Multicoin Capital, is expected to become Chairman of the Board of Directors upon the closing of the private placement.
- The partnership with Galaxy Digital, Jump Crypto, and Multicoin Capital positions Forward Industries to be a key player in the digital assets space within the Solana ecosystem.
- The strategic alliance among the three lead investors provides Forward Industries with access to expertise, resources, and opportunities within the crypto industry.
The $1.65 billion private placement and strategic alliances with Galaxy Digital, Jump Crypto, and Multicoin Capital mark a significant step for Forward Industries towards establishing itself as a prominent institutional participant in the Solana ecosystem.