The design company Forward Industries, listed on Nasdaq, has significantly reorganized its corporate treasury by focusing on Solana 
$87. Following this strategic move, the company submitted an application to the United States Securities and Exchange Commission (SEC) for a $4 billion “at-the-market” (ATM) equity offering program. The funds from the equity sale are intended for expanding Solana holdings and other corporate activities.
Details of the SEC Share Sale Program
According to Forward Industries, the share sales will be executed through Cantor Fitzgerald, as part of a sales agreement effective until September 16, 2025. The program received approval through an automatic shelf registration by the SEC, eliminating the need for an additional approval process. Chairman Kyle Samani mentioned that the sales will occur as needed.
The company’s share sale plan follows a recently concluded $1.65 billion private investment round. This investment round, which included participation from Galaxy Digital, Jump Crypto, and Multicoin Capital, aimed to support Forward Industries’ Solana-centric plan.
By utilizing a portion of the funds obtained from the investment round, the company acquired 6.82 million SOL tokens. This acquisition, conducted at an average price of $232, amounts to approximately $1.58 billion in total.
Intensified Treasury Acquisitions in Solana
Block data reveals that the value of publicly traded companies’ Solana reserves reached $3.2 billion as of September 17, 2025. Forward Industries’ significant purchase of 6.82 million SOL constitutes a major part of this total. Presently, Solana ranks among the most preferred cryptocurrencies in corporate treasuries, following Bitcoin 
$78,815 and Ethereum 
$2,374.
The market’s reaction to the news has been notable. Data from Yahoo Finance indicates that Forward Industries’ shares fell by 6% following the announcement. Meanwhile, Solana’s price remains stable, especially ahead of the U.S. Federal Reserve’s interest rate decision. According to price data from CryptoAppsy, the altcoin experienced a slight 0.61% drop in value over the past 24 hours, trading at $234.20.
