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Forward Industries, Inc. (NASDAQ: FORD) (the "Company" or "Forward Industries"), the leading Solana treasury company, today announced that it has filed an automatic shelf registration statement with the U.S. Securities and Exchange Commission ("SEC") which included an at-the-market equity offering prospectus covering the offer and sale of shares of its common stock (the "ATM Shares"), having an aggregate sales price of up to $4 billion (the "ATM Program").
Forward Industries intends to use the net proceeds from the ATM Program, if any, for general corporate purposes, including, among other things: working capital; pursuit of its Solana token ("SOL") strategy; the purchase of income generating assets to grow its business and/or other capital expenditures.
"Through this offering, Forward Industries gains a flexible and efficient mechanism to raise and methodically deploy capital in support of our Solana treasury strategy," said Kyle Samani, Chairman of the Board of Directors of Forward Industries. "Having recently completed the largest Solana-focused digital asset treasury raise to date and initial purchases of more than 6.8 million SOL, the ATM Program enhances our ability to continue scaling that position, strengthen our balance sheet, and pursue growth initiatives in alignment with our long-term vision."
Pursuant to the terms of the Sales Agreement, dated September 16, 2025 (the "Sales Agreement"), among Forward Industries and Cantor Fitzgerald & Co. ("Cantor" or the "Agent"), sales of the ATM Shares, if any, under the ATM Program may be made in transactions deemed to be "at the market offerings" as defined in Rule 415(a)(4) promulgated under the Securities Act of 1933, as amended (the "Securities Act"). Subject to the terms of the Sales Agreement, Cantor is not required to sell any specific number or dollar amounts of ATM Shares but will use commercially reasonable efforts consistent with its normal trading and sales practices, on mutually agreed terms between Cantor and Forward Industries. There is no current arrangement for funds to be received in any escrow, trust or similar arrangement.
The ATM Shares to be sold under the Sales Agreement, if any, will be issued and sold pursuant to the Company's automatic shelf registration statement on Form S-3 (File No. 333-290312) filed with the SEC on September 17, 2025, which automatically became effective upon filing and included an "at the market offering" prospectus covering the offer and sale of the ATM Shares pursuant to the Sales Agreement. Before making an investment in the ATM Shares, potential investors should read the registration statement and the accompanying prospectus for more information about Forward Industries and the ATM Program. Copies of the registration statement, the accompanying prospectus and the Sales Agreement are available on the SEC's website at www.sec.gov . Potential investors may request a copy of any or all documents referred to above that have been or may be incorporated by reference into this prospectus (excluding certain exhibits to the documents) at no cost, by writing or calling the Company at the following address or telephone number: Forward Industries, Inc., 700 Veterans Memorial Highway, Suite 100, Hauppauge, New York 11788, (631) 547-3055.
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Forward Industries, Inc.
Forward Industries, Inc. (NASDAQ: FORD) is a global design company serving top tier medical and technology companies. For over 60 years the company has been successful in developing and producing a portfolio of outstanding products for some of the world's leading companies and brands. In September 2025, Forward Industries initiated a Solana treasury strategy dedicated to acquiring SOL and increasing SOL-per-share through bespoke strategies and active management of the company's treasury. The Company's Solana treasury strategy is supported by industry leading investors and operating partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital. For more information on the Company's Solana treasury strategy, visit sol.forwardindustries.com .
Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act, Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," and other words of similar meaning. These forward-looking statements address various matters including statements relating to the Company's plan for value creation and strategic advantages, market size and growth opportunities. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, failure to realize the anticipated benefits of the transactions and the proposed digital asset treasury strategy; changes in business, market, financial, political and regulatory conditions; risks relating to the Company's operations and business, including the highly volatile nature of the price of Solana and other cryptocurrencies; the risk that the price of the Company's common stock may be highly correlated to the price of the digital assets that it holds; risks related to increased competition in the industries and markets in which the Company does and will operate (including the applicable digital assets market); risks relating to significant legal, commercial, regulatory and technical uncertainty regarding digital assets generally; risks relating to the treatment of crypto assets for U.S. and foreign tax purposes, as well as those risks and uncertainties identified in the Company's filings with the SEC. The forward-looking statements in this press release speak only as of the date of this document, and the Company undertakes no obligation to update or revise any of these statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250916485458/en/
Media Contact
Carissa Felger / Sam Cohen
Gasthalter & Co.
(212) 257-4170
Forward@gasthalter.com
Company Contact
Michael Pruitt
(704) 578-2238
mp@avenelfinancial.com
Kathleen Weisberg
(631) 547-3055
kweisberg@forwardindustries.com
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