Forward Industries' SOL Treasury Jumps 13% to 8.5M Tokens, NAV Hits $870M
FWDI has more than doubled off its 52-week low of $3.48.
Summary
Forward Industries grew its Solana treasury by 948,601 SOL in fiscal Q4, bringing total holdings to 8.5 million tokens — a 13% sequential increase. The purchases were made at an average cost of $83 per coin, and the company now holds approximately 1.4% of Solana's circulating supply. Net asset value surged to $870.4 million from $481.3 million the prior quarter, driven by both the additional SOL and a 40.7% rise in the market cap of its OnRe investment. Fully diluted SOL per share climbed 10.4% sequentially to 0.0806, and the company noted the share issuance used to fund purchases was accretive on a per-share basis. This follows the $25 million registered direct offering closed in late September, which provided capital for the treasury expansion. The company's market-to-NAV ratio stands at 0.946x, suggesting the stock trades at a slight discount to its reported net asset value.
At the time of this announcement, FWDI was trading at $7.88 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $597.3M. The 52-week trading range was $3.48 to $28.25. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CryptoProwl.