Forward Industries to Sell Shares in $4 Billion ATM Program to Invest in Solana

• Forward Industries Bets on Solana Tokens
• ATM offering targets corporate expansion
• Companies accumulate millions in SOL

Forward Industries, listed on NASDAQ under the ticker FORD, filed an automatic SEC registration to launch an ambitious market-based equity program (ATM) valued at $4 billion. This move marks a strategic step for the company to raise funds to support corporate initiatives and the acquisition of Solana tokens, consolidating its presence in the cryptocurrency ecosystem.

According to the statement, Cantor Fitzgerald will be responsible for executing the program, as per the contract signed on September 16, 2025. The structure offers flexibility to issue common shares gradually, allowing the company to adjust the pace of capitalization according to market conditions.

The allocation of resources includes working capital, acquisition of revenue-generating assets, infrastructure investments, and, most importantly, strengthening Solana's treasury strategy. This approach clearly aligns with the expansion of the Solana blockchain ecosystem, which has been experiencing strong institutional growth.

Forward Industries recently acquired over 6,8 million SOL tokens, becoming one of the largest institutional holders of the asset. According to Lookonchain, the company currently holds 6.822.000 SOL on its balance sheet, valued at approximately US$1,58 billion, at an average cost of US$232 per unit.

There are now 6 strategic $ SOL reserve entities that each hold over 1M $ SOL .

Among them, Forward Industries holds a massive 6,822,000 $ SOL ($1.58B), with an average purchase cost of $232. pic.twitter.com/YXs6AZmfdR

— Lookonchain (@lookonchain) September 16, 2025

Besides Forward, other companies are also actively participating in SOL accumulation. Sharps Technology has 2,14 million, DeFi Development Corp has 2,02 million, followed by Upexi with 2 million, Mercurity Fintech with 1,08 million, and iSpecimen Inc with 1 million tokens.

Solana's growing corporate exposure is driven by consistent adoption metrics. In August, the network's applications reported revenue of $193,5 million—a 126% increase year-over-year. Among the most prominent categories are trading tools, launchpads, DEXs, and DePIN applications.

This strengthening of institutional use and trust helps solidify Solana as one of the leading blockchains in the market. Forward Industries' strategy, combining fundraising with expanding its SOL holdings, reflects a solid commitment to the ecosystem's growth.