Forward Industries, Inc. acquired over 500,000 SOL during fiscal Q3 of 2026 at an average purchase price of approximately $79 per SOL, increasing its total Solana treasury to 7.55M SOL as of June 30, 2026. The company, which positions itself as a leading Solana treasury company, utilized capital raised from public markets to expand its holdings in an accretive manner for shareholders. This strategic acquisition follows the company's inclusion in the Russell 2000 and Russell 3000 Indexes, enhancing its ability to access capital when its shares trade at a premium to net asset value (NAV).

Capital Allocation and Share Growth

During fiscal Q3 of 2026, Forward Industries sold 93,642 shares of common stock as part of its At The Market offering. This capital deployment strategy resulted in an annualized SOL-per-fully diluted share growth of 36%, increasing the metric to 0.0729 as of June 30, 2026, up from 0.0669 as of March 31, 2026. Ryan Navi, Chief Investment Officer of Forward Industries, stated that the company dynamically allocates capital by repurchasing shares when trading at a discount to NAV and issuing equity when trading at a premium to compound SOL per share.

Financial Metrics and Treasury Overview

The following table details the company's Solana holdings and related financial metrics for the reported period:

Forward Industries reported 73,846,883 common shares outstanding as of June 30, 2026, compared to 76,314,617 as of March 31, 2026. The company employs a cost of capital structure using fwdSOL as collateral, allowing it to borrow against its SOL at a lower rate than its staking yield, which ranges between 6.4% to 7.3%.

Forward Industries, Inc. confirmed that as of July 1, 2026, its outstanding shares consisted of 73,846,883 shares of common stock, par value $0.01 per share. This total is comprised of 87,163,107 shares issued less 13,316,224 shares repurchased and held in treasury. The Common Shares are admitted to trading on the NASDAQ Stock Market under the ticker symbol FWDI. The International Securities Identification Number for these securities is US3499321038.

Capital Structure Details

The company disclosed the status of its equity instruments as of July 1, 2026. In addition to the outstanding common stock, there are outstanding options to purchase up to 1,811,666 Common Shares. Furthermore, there are outstanding restricted stock units and performance stock units conferring on their holders vested or unvested rights to convert into, or to receive, up to an aggregate of 2,107,732 Shares.

Forward Industries confirmed that as of July 1, 2026, there were outstanding warrants to subscribe for an aggregate of 25,759,600 Common Shares.

Regulatory Context

This announcement is made for the purposes of Rule 2.12 of the Irish Takeover Panel Act, 1997, Takeover Rules, 2022. The directors of Forward Industries accept responsibility for the information contained in this announcement, confirming it is in accordance with the facts and does not omit anything likely to affect the import of such information.