Summary
- Forward Industries said it plans to raise up to $4 billion to purchase additional Solana.
- The proceeds will be used for Solana purchases and operating expenses.
- Forward Industries holds about 6.8 million SOL, the largest amount among listed companies.
Nasdaq-listed Forward Industries announced plans to raise up to $4 billion through the issuance of common stock.
According to Business Wire on the 17th (local time), Forward Industries said in a press release, "We plan to raise up to $4 billion through an ATM (At-the-Market) method," and "The proceeds will be used to purchase additional Solana and for operating expenses."
Kyle Samani, chairman of the board of Forward Industries, said, "We recently purchased more than 6.8 million Solana," and "Through the ATM program, we will be able to significantly increase our Solana holdings."
Currently, Forward Industries holds about 6.8 million SOL. It is the largest holder among listed companies.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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