Forward Industries Launches $4 Bln Share Offering To Fund Solana Plans

(RTTNews) - Forward Industries, Inc. (FORD), the Solana treasury company, on Wednesday announced that it has filed an automatic shelf registration statement with the U.S. Securities and Exchange Commission, including an at-the-market equity offering prospectus for up to $4 billion of common stock.

The company intends to use net proceeds for general corporate purposes, including working capital, pursuing its Solana token strategy, acquiring income-generating assets, and other capital expenditures.

Under the Sales Agreement with Cantor Fitzgerald & Co., shares may be sold in "at-the-market" transactions, with no set minimum amount required.

Chairman of Forward Industries Kyle Samani said the ATM Program provides a flexible mechanism to raise and deploy capital, scale its Solana position, strengthen the balance sheet, and support growth initiatives aligned with the company's long-term vision.

In the pre-market trading, 6.27% lesser at $35.01 on the Nasdaq.