Forward Industries планирует увеличить запасы Solana на $4 млрд через продажу акций Translation: Forward Industries plans to boost Solana reserves by $4 billion through stock sale.

The Nasdaq-listed company Forward Industries has submitted a prospectus to the SEC, announcing its intention to sell shares worth $4 billion. The proceeds will be used, among other purposes, to replenish its Solana reserve.

According to the announcement, the flexible security issuance mechanism will allow the firm to sell shares gradually through Cantor Fitzgerald without a commitment to a specific volume. In addition to purchasing SOL, Forward Industries plans to allocate the raised funds for working capital and investments in income-generating assets.

The company currently holds 6.8 million SOL valued at $1.6 billion, which it acquired through a private placement led by Galaxy Digital, Jump Crypto, and Multicoin Capital in early September.

Forward Industries is the largest corporate holder of Solana among treasury firms, surpassing the threshold of 1 million SOL under management.

The other top players include DeFi Development Corp. and Upexi, each holding 2 million coins.

Earlier, analysts from Lookonchain noted another firm purchasing Solana. Within a day, FalconX withdrew 413,075 SOL valued at $98.4 million from the exchanges Binance, OKX, Coinbase, and Bybit.

As of the time of writing, the cryptocurrency is trading at $235. Its price has increased by more than 7% over the past week.

It is worth noting that Galaxy Digital’s CEO, Mike Novogratz, recently declared the beginning of the «Solana season» amid heightened activity from institutional investors.