SOL treasury Forward industries buys back shares using crypto-backed debt
The company is leveraging its crypto treasury to fund a share buyback, reducing outstanding shares and potentially boosting per-share value following a six-month slide.
Forward Industries, a publicly traded company with a Solana-focused treasury strategy, has launched a share repurchase program funded through a crypto-backed loan from Galaxy Digital LLC, underscoring how digital assets are increasingly being used in traditional corporate finance.
The company said Thursday it will repurchase 6,164,324 shares of its common stock from an unnamed institutional investor for approximately $27.4 million, reducing total shares outstanding to 76,977,809.
Cointelegraph’s email to Forward seeking further information on the identity of the selling institutional investor was not answered prior to publication.
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