In a significant move for the cryptocurrency market, Forward Industries, the largest publicly traded company holding Solana treasury, has announced plans to raise $4 billion through an at-the-market equity offering. The source notes that this initiative aims to bolster its working capital and further its strategic investments in Solana tokens.
Funding and Portfolio Enhancement
The funds raised from this offering will not only support Forward Industries' operational needs but also facilitate the acquisition of income-generating assets, enhancing its overall portfolio. Currently, the company holds approximately $31 billion in SOL within its treasuries, and this new offering could potentially double that amount, signaling a strong commitment to the Solana ecosystem.
Strategic Management of the Offering
To manage the offering, Forward Industries has appointed Cantor Fitzgerald as the sales agent, with the offering already effective for trading. This strategic move underscores the company's confidence in the growth potential of Solana and its broader implications for the cryptocurrency market.
Currently, Galaxy Digital's significant investment in Solana has sparked considerable interest among investors, as detailed in our previous report. For more insights on this development, you can read the full article here.
