- After recently debuting the company’s Solana treasury strategy, FWDI holds more than 6.9 million Solana (SOL) and building long-term shareholder value by acquiring more SOL and actively participating in the Solana ecosystem.
- The company deploys assets strategically through a range of on-chain opportunities, including staking, lending, and participating in decentralized finance (“DeFi”).
- The company is led by an accomplished board and management team with real world industrial experience including finance, technology, and law.
Forward Industries (NASDAQ: FWDI) is a company that continues to compile a large-scale Solana treasury. The strategy for FWDI centers on not only acquiring more SOL, but also actively participating within the ecosystem by deploying assets in opportunities like staking, lending, and DeFi.
The company has developed and is applying a rigorous institutional risk management framework, using capital markets to scale SOL holdings, and partnering with other Solana-aligned businesses.
Since the inception of the company’s treasury strategy, it has acquired more than 6.9 million SOL, and the company’s validator infrastructure has generated between 6.82% and 7.01% annual percentage yield (“APY”) before fees, outperforming many top peer validators.
Forward Industries also recently partnered with Superstate to allow stockholders to tokenize and hold FWDI shares on the Solana blockchain. This is the first time that a regulated public equity has been able to be used as collateral within a live DeFi market.
Additionally, the company recently formed a crypto advisory board and appointed 25 key inaugural members. The members represent many years of collective experience within areas like the Solana ecosystem, digital assets, capital markets, and more. The purpose of this board is to provide strategic advice to FWDI about the company’s SOL strategy and other blockchain-related plans.
The company has authorized a $1 billion share repurchase program, maintains ample liquidity reserves, and is debt free. In addition, it has launched fwdSOL, a liquid staking token that it uses to maximize the yield from staked SOL.
The Chairman of the company, Kyle Samani, has years of experience in the investment space as the co-founder and Managing Partner of Multicoin Capital, which was the original seed investor in Solana. He also has a hands-on role with the firm’s portfolio to shape strategy and works closely with the investment team.
The interim CEO of FWDI, Mike Pruitt, has decades of leadership experience as a founder, CEO, and director of many companies, and the CFO, Kathleen Weisberg, has held numerous accounting, audit, and financial reporting roles for major companies, and has been with the company for over 5 years.
About Forward Industries Inc. (NASDAQ: FWDI)
Forward Industries is building a large-scale Solana treasury and is backed by some of the digital space’s most influential investors. It seeks to create long-term shareholder value through acquiring more SOL and participating in the Solana ecosystem. In particular, it strategically deploys assets through various on-chain activities like staking, lending, and participating in DeFi.
For more information, visit the company’s website at www.ForwardIndustries.com.
NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI
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