Overview

• The SEC filing enables open‑market share sales under an automatic shelf, with proceeds designated for Solana purchases, working capital, and income‑generating assets.
• Cantor Fitzgerald is named as sales agent for the offering, which Yahoo Finance reports carries a 3% fee.
• FORD shares fell roughly 7% to 10% in early trading after the announcement, reflecting investor concern about dilution.
• Earlier this month, Forward acquired about 6.82 million SOL using a $1.65 billion private raise led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
• Analysts note the company’s roughly $3.1 billion market capitalization makes a full $4 billion issuance unlikely, though substantial execution could lift publicly held SOL totals.