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

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...