“The Design Firm Turned Digital-Asset Player Secured Backing from Galaxy Digital, Jump Crypto, and Multicoin Capital In What It Calls The Largest Solana-Finasury Finasury Finasury Financy.”, – WRITE: www.coindesk.com
The Firm’s Shares Jumped 128% in Pre-Market Trading, While Sol Rose by 2.3% Following The Announcement
The Funding Will Support Forward Industries’ Plan to Become a Publicly Traded Institute Player in the Solana Ecosystem. Galaxy and Jump Will Provide Infrastructure and Advisory Services, While Multicoin, An Early Solana Baccker, Brings Investment Expertise, Accounting To A Moday Press Release.
The Company ITS Strategy Aims to Generate On -chain Returns and Increase Long-Term Shareholder Value Through Active Participation in Solana’s Decentralized Finance Markets.
Forward Industries Will Be Competing with The Likes of Upexi Inc. (Upxi), WHICH OWNS more than 2 MILLION SOL TKENS ($ 430 Million) and Sharps Technology (stss) After It Raised $ 400 Million to Establish a solana Treasury in August. Another Solana Treasury Company, Sol Strategies, Which Holds More than 435k Sol Tokens, SAID ON SEPT. 5 that It Will Uplist from Toronto to Nasdaq on Sept 5.
As part of the transaction, Multicoin Co-FOUNDER and Managing Partner Kyle Samani Is Expert To Become Chairman of Forward’s Board. Galaxy President and Cio Chris Ferraro and Jump Crypto Cio Saurabh Sharma Will Join as Board Obervers.
“An Institutional-Scale Treasury Can Be Deployed in Sophisticated Ways with the Solana EcoSystem to Create Differentated Value,“ Samani Said in A Statement.
Forward Has Also Engaged Cantor Fitzgerald as Lead Placement Agent, with Galaxy’s Investment Banking ARM Serving as Co-Placement Agent and Financial Advisor.
Founded more than 60 Years Ago As A Design Company for Medical and Technology Firms, Forward Industries is Now Reposition ITSELF as a Digital Asset Trasury.
Microstrategy Expanded ITS Bitcoin Holdings with A $ 217 Million Purchase, AMID RECENT INVESTOR PUSHBACK AS The SLOCK SLIDES AND ITS VALUATION RELATIVE TO BITCOIN Weakens.
- Strategy Purchased Another 1,955 BTC for $ 217 Million at An AVERAGE PRICE OF $ 111,196 per Coin, Lifting ITS Total Holdings to 638,460 BTC.
- The Buys Come Amid the Company Missing Out on Getting Included in the S&P 500 Index.
- Microstrategy’s Shares Have Slid 26% Since July, Currently Trading AT $ 335.
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