Solana Treasury Firm Forward Industries Files Prospectus and Approves $1B Share Repurchase Program

Forward Industries, Inc. (NASDAQ: FORD), the Solana treasury company, announced the filing of its Resale Prospectus Supplement with the U.S. Securities and Exchange Commission (SEC) and the authorization of a new $1 billion share repurchase program.

This latest move shows the company’s commitment to shareholder value and confidence in the long-term potential of its Solana-based strategy.

Resale Prospectus Supplement Filing

Forward Industries filed a Resale Prospectus Supplement pursuant to its effective registration statement on Form S-3, previously filed earlier this year. The supplement registers for resale certain shares of common stock, as well as shares issuable upon the exercise of warrants, that were issued in the company’s September 2025 private placement (PIPE).

The registration allows the selling stockholders named in the filing to sell their shares from time to time, as described in the prospectus. Forward Industries will not receive any proceeds from these potential resales, as the filing primarily facilitates liquidity for existing PIPE investors.

Board Approves $1 Billion Share Repurchase Program

Separately, on November 3, Forward Industries’ board of directors authorized a share repurchase program allowing the company to repurchase up to $1 billion of its outstanding common stock.

The authorization will remain in effect until September 30, 2027, and repurchases may be executed through open-market transactions, block trades, privately negotiated deals, or Rule 10b5-1 trading plans.

The company said it will determine the timing and scale of repurchases based on market conditions, regulatory factors, and its own assessment of share value. The program does not require the company to buy back any specific number of shares and may be modified, suspended, or terminated at any time.

Confidence in Solana and Forward’s Strategy

“Today’s announcement reflects our confidence in both Forward Industries’ differentiated strategy and the underlying strength of Solana’s ecosystem,” said Kyle Samani, Chairman of the Board.

“While the resale registration is a standard post-PIPE process, launching a buyback program alongside it signals our long-term commitment to shareholders and belief in Solana’s potential to transform capital market infrastructure,” adds Samani.

Forward Industries Stock Price

Shares of Forward Industries, Inc. (NASDAQ: FORD) have surged 116.77% year-to-date, reflecting renewed investor confidence following the company’s strategic repositioning as a Solana-focused treasury operator and its announcement of a $1 billion share repurchase program.

As of November 4, the stock traded at $10.86, giving the company a market capitalization of approximately $938.9 million. Despite recent pullbacks from its late-summer highs, the stock remains above its 2025 opening levels.

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