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Forward Industries, described as the largest corporate accumulator of Solana, announced a $25 million registered direct offering for institutional investors.
The Nasdaq-listed company, which trades under the ticker FWDI, plans to issue 3.125 million common shares at $8 per share and expects to complete the offering on Sept. 24. The company said it intends to use the net proceeds, after fees and expenses, to buy additional SOL and expand its holdings.