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Forward Industries, the World's Largest Holder of Solana, Buys Back Shares Using Collateralized Loans

2026/03/22 18:22
CoinPost
Written by Enzo
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Forward Industries, the World's Largest Holder of Solana, Buys Back Shares Using Collateralized Loans

Approximately 7% Reduction in Outstanding Shares

Approximately 7% Reduction in Outstanding Shares

Listed on the US NASDAQ, Solana (SOL) treasury company Forward Industries announced on the 19th that it has repurchased 6,164,324 shares for approximately $27.4 million in a private transaction with institutional investors. The funds were sourced from a SOL-collateralized loan ($40 million, 3.4% interest rate, maturity of approximately 4.9 months) with Galaxy Digital LLC. This arrangement allows the company to maintain liquidity without selling SOL, while continuing to receive staking rewards...

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MAGAZINE

Iolite Vol.20

July 2026 issueReleased on 2026/05/29
Interview Michael Shaulov, CEO & Co-Founder of Fireblocks Marcus Infanger, SVP of RippleX PHOTO & INTERVIEW Ryoko Yonekura Special Features "The Future of Payments: Beyond the Gateway" "Innovation Without Taboos: The Dual-Use Shockwave" "The Future of Humanity Expanded by BMI: The 'Sixth Sense' Stemming from Brain-Computer Interface Devices" [Dialogue Series] The NISHI Talk: Crypto Conversations"The 'True Decentralization' of DeFi and the Challenges Facing the Crypto Industry" Kasou NISHI × Yoshihiko Uchida Series Tech and Future by Toshinao Sasaki... and more.