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Newly Implemented Share Repurchase Program Underscores Conviction in Company's Strategy and Long-Term Vision
Forward Industries, Inc. (NASDAQ: FORD) (the "Company" or "Forward Industries"), the leading Solana treasury company, today announced the filing with the U.S. Securities and Exchange Commission ("SEC") of the Company's resale prospectus supplement (the "Resale Prospectus Supplement") pursuant to the Company's effective registration statement on Form S-3 filed earlier this year. The Resale Prospectus Supplement registers for resale certain shares of common stock previously issued in the Company's September 2025 private placement (the "PIPE") and became automatically effective upon filing.
In connection with this milestone, Forward Industries' Board of Directors (the "Board") has also authorized, on November 3, 2025, a share repurchase program under which the Company may repurchase up to $1 billion of its outstanding common stock. The authorization will expire on September 30, 2027.
Resale Prospectus Supplement Filing and Market Context
The Resale Prospectus Supplement registers certain shares of common stock (and certain shares issuable upon exercise of warrants) previously issued in the PIPE. The filing allows the selling stockholders named therein to resell such securities from time to time as described therein. Forward Industries will not receive any proceeds from any potential resale of shares by selling stockholders.
Authorization of New $1 Billion Share Repurchase Program
Separately, the Company's Board authorized, on November 3, 2025, a share repurchase program permitting Forward Industries to repurchase up to $1 billion of its common stock. Repurchases may be made from time to time through open-market purchases, block trades, and/or privately negotiated transactions (including accelerated share repurchases (ASRs)), and may include Rule 10b5-1 trading plans. Any repurchase will be executed in compliance with Rule 10b-18 of the Securities Exchange Act of 1934.
The Company may determine the timing, amount, and method of repurchases based on market conditions, share price, legal and regulatory requirements, and other considerations in its sole discretion. The program does not obligate the Company to repurchase any specific number of shares and may be modified, suspended, or terminated at any time.
"Today's announcement reflects our confidence in both Forward Industries' differentiated strategy and the underlying strength of Solana's ecosystem," said Kyle Samani, Chairman of the Board. "While the resale registration is a normal post-PIPE process, launching a buyback program alongside it sends a clear message — we are committed to building long-term shareholder value and believe in the potential of Solana technology for capital market applications. The authorization gives us flexibility to return capital to shareholders when we believe our stock trades below intrinsic value, all while continuing to execute our Solana treasury and operational initiatives."
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 .
View source version on businesswire.com: https://www.businesswire.com/news/home/20251104964973/en/
Media Contact
Carissa Felger / Sam Cohen
Gasthalter & Co.
(212) 257-4170
Forward@gasthalter.com
Investor Relations Contact
Sean Mansouri, CFA / Aaron D'Souza
Elevate IR
(720) 330-2829
ir@forwardindustries.com
