TLDR
- Forward Surges 13% After $1.65B Crypto Deal Led by Galaxy and Multicoin
- Forward Industries Bets Big on Solana With $1.65B Crypto Treasury Plan
- $1.65B Crypto Injection Sends Forward Soaring—Solana at the Core
- Forward Eyes Solana Dominance After $1.65B Backing From Crypto Giants
- PIPE Dream: Forward Rallies With $1.65B in Strategic Crypto Funding
Forward Industries, Inc. (FORD) closed at $25.20, down 13.01% on September 10, but rebounded in pre-market trading to $28.50, gaining 13.10%.
Forward Industries, Inc. (FORD)
The rebound followed a major announcement regarding a $1.65 billion PIPE financing backed by top crypto investment firms.
PIPE Financing Secures $1.65B in Strategic Capital
Forward Industries confirmed the close of a $1.65 billion private investment in public equity (PIPE) financing. Galaxy Digital, Jump Crypto and Multicoin Capital, all well-known in the digital asset industry, led the transaction. Collectively, these three subscribed for more than $300 million.
Alongside the lead participants, several other global firms and angel investors contributed to the financing round. Participants included names like Bitwise Asset Management, Borderless Capital and FalconX, signaling strong institutional support. This strategic capital influx bolsters Forward’s balance sheet and strengthens its digital asset exposure.
The company plans to allocate proceeds primarily to acquire SOL, Solana’s native asset. It also intends to use the capital to establish a crypto treasury and support ongoing operations. The funds will also cover transaction-related costs and potential future acquisitions.
Solana Positioned at the Center of the Strategy
Solana now forms the foundation of Forward Industries’ capital strategy. The company plans to deploy its treasury into Solana-based activities including staking, lending, and market making. This approach reflects confidence in the blockchain’s growth and revenue potential.
Solana has already processed 8.9 billion transactions in Q2 2025 and generates $4 billion daily in decentralized exchange volume. These metrics represent a strong on-chain economy and show significant developer activity across DeFi and Web3. Forward Industries aims to become a major public market participant in this ecosystem.
The pipeline strategy focuses on earning stable returns from Solana’s infrastructure. By anchoring its treasury to SOL, the company expects to benefit from high network throughput and expanding adoption. Forward’s shift into digital assets marks a clear strategic evolution.
New Leadership Reinforces Digital Direction
Kyle Samani, co-founder of Multicoin Capital, has joined Forward’s Board as Chairman. The appointment aligns with the firm’s focus on blockchain innovation and Solana integration. Samani brings deep industry expertise and a long-standing commitment to the crypto sector.
Interim CEO Michael Pruitt has also been appointed to the Board, adding operational continuity. Galaxy’s Chris Ferraro and Jump Crypto’s Saurabh Sharma will serve as Board observers, ensuring ongoing strategic input. Forward’s management team remains unchanged and continues to execute the revised business model.
The expanded leadership provides governance and crypto-native insights to guide treasury operations. This structure aims to unlock new value through diversified digital strategies. Together, the board and partners will drive Forward’s growth within the Solana ecosystem.
