U.S.-listed Forward Industries buys $1.58 billion worth of Solana

Son Min

Summary

Forward Industries said it purchased a total of 6,822,000 Solana (SOL) at an average price of $232.
The purchases, totaling $1.58 billion, were carried out in the public market and on-chain.
The company said it aims to be the world's leading Solana treasury company and provide long-term value to shareholders.

Nasdaq-listed Forward Industries has reportedly purchased as many as 6.8 million Solana (SOL).

On the 15th (local time), according to Business Wire, Forward Industries said in a press release, "After fundraising, we purchased a total of 6,822,000 Solana (SOL)," adding, "the average purchase price was $232 and we invested a total of $1.58 billion." The purchases were reportedly made on the public market and on-chain.

Kyle Samani, chairman of the board of Forward Industries, said, "Our goal is to build the world's leading Solana treasury company," adding, "we will provide long-term value to shareholders."

Earlier, Forward Industries had raised $1.65 billion to buy Solana.

SOL