Overview
- Forward Industries filed a Resale Prospectus Supplement with the SEC registering for resale shares issued in its September 2025 private placement, and the company said it will not receive proceeds from those sales.
- On November 3, the board authorized a stock repurchase program of up to $1 billion, with coverage reports split on duration, as some cite an expiration of September 30, 2027 and others report no stated end date.
- The stock fell roughly 25–30% on November 4 on heavy trading, while Solana declined about 7.5% the same day.
- The company holds about 6.82 million SOL acquired at an average price near $232 following a $1.58 billion PIPE that included investors such as Galaxy Digital, Jump Crypto, and Multicoin Capital.
- DeFiLlama-based estimates put the SOL position at roughly $1.2 billion, implying around $382 million in unrealized losses, and recent reports show the company’s market capitalization near $900 million.