Forward Industries Leverages Crypto Treasury for Share Buyback

Forward Industries, a publicly traded company with a significant presence in the Solana ecosystem, has announced a share repurchase program funded by a crypto-backed loan from Galaxy Digital LLC. The $40 million loan is collateralized by Forward's Solana holdings, which total 7,013,536 SOL, valued at approximately $613 million at current market prices.

The share repurchase aims to reduce the company's outstanding shares, potentially boosting per-share value following a six-month decline in its stock price. The move reflects a growing trend of companies leveraging digital asset treasuries to optimize their capital structure and enhance shareholder returns.