- The Forward Industries (FWDI) Board recently authorized a share repurchase program to allow the company to repurchase up to $1 billion worth of common company stock.
- The company has also filed a Resale Prospectus Supplement, which allows certain named shareholders to resell common stock from time to time.
- According to the Chairman of the Board, Kyle Samani, these moves reflect the company’s commitment to building long-term shareholder value and believes in the potential of Solana technology for capital market applications.
Forward Industries (NASDAQ: FWDI), a company building and managing a large-scale Solana (SOL) treasury, recently authorized a new share repurchase program and filed a Resale Prospectus Supplement (https://ibn.fm/h8hV2) with the U.S. Securities and Exchange Commission (“SEC”).
The share repurchase program permits the company to buy back up to $1 billion of common stock. These repurchases may be made periodically through block trades, open-market purchases, or via transactions that are negotiated privately. Also, all repurchases will comply with Rule 10b-18 of the Securities Exchange Act of 1934.
FWDI will determine the amount, method, and timing of repurchases based on share price, market conditions, legal requirements, and other considerations. This authorization is set to expire on Sept. 30, 2027. The Resale Prospectus Supplement registers certain shares of FWDI’s common stock which were issued in the company’s recent private placement. The filing allows the named stockholders to resell common stock as described in the filing.
Speaking about these moves, Chairman of the Board, Kyle Samani, said “Today’s announcement reflects our confidence in both Forward Industries’ differentiated strategy and the underlying strength of Solana’s ecosystem,” adding “While the resale registration is a normal post-PIPE process, launching a buyback program alongside it sends a clear message — we are committed to building long-term shareholder value and believe in the potential of Solana technology for capital market applications. The authorization gives us flexibility to return capital to shareholders when we believe our stock trades below intrinsic value, all while continuing to execute our Solana treasury and operational initiatives.”
About Forward Industries (NASDAQ: FWDI)
Forward Industries is a Solana treasury company that’s backed by some of the most influential investors in the digital space. The company’s strategy focuses on creating long-term shareholder value by accumulating SOL and actively participating in the Solana ecosystem by deploying assets through various on-chain opportunities.
For more information, visit the company’s website at www.ForwardIndustries.com.
NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI
