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Forward Industries, Inc. Announces $1.65 Billion Private Placement in Cash and Stablecoin Commitments Led by Galaxy Digital, Jump Crypto, and Multicoin Capital to Initiate Solana Treasury Strategy
Forward Industries, Inc. is a global design, sourcing, manufacturing, and distribution company that provides soft-goods, protective carry solutions, smart products, and IoT technology services across sectors—particularly for medical, pharmaceutical, consumer electronics, industrial, and wearables markets. The company’s capabilities span product design, rapid prototyping, manufacturing, logistics, and lifecycle services
Forward industries inc. (NASDAQ: FORD)
Design-First Legacy: Crafting Solutions for the Tech-Enabled World
Forward Industries’ origins date back to 1954, beginning as a heat-sealing contractor before evolving into a publicly traded design firm by 1971.
Today, the company specializes in designing and manufacturing custom soft-goods and smart hardware solutions. Its offerings include protective cases, wearable enclosures, smart furniture, medical device packaging, and IoT-enabled products tailored to medical, consumer, industrial, and automotive needs.
Structured around design, manufacturing, and distribution capabilities, Forward Industries delivers a vertically integrated experience—from ideation and rapid prototyping to production, compliance, staging, and logistics.
This model allows collaboration across global brands and OEMs, delivering bespoke solutions with agility and scale.
Forward industries inc. (NASDAQ: FORD)
Strategic Evolution into Digital Asset Treasury
In a striking strategic shift, Forward Industries announced on September 8, 2025, a $1.65 billion private placement in cash and stablecoin commitments via a PIPE offering led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
The move positions the company as a potential leading publicly traded institution in the Solana ecosystem, aiming to generate returns by actively managing a Solana-focused digital-asset treasury.
Upon closing, Kyle Samani (co-founder, Multicoin Capital) is expected to become chairman of Forward Industries’ board, bringing deep blockchain and Solana expertise. Additionally, executives from Galaxy (Chris Ferraro) and Jump Crypto (Saurabh Sharma) will participate as board observers .
The PIPE sponsors will also provide strategic support across trading, lending, infrastructure, advisory, and staking functions—not just capital infusion.
This pivot reflects a rare transformation—from hardware design to digital-asset treasury strategy—underpinned by institutional backing and governance alignment with leading blockchain ecosystem players.
Future Outlook & Enterprise Potential
By combining foundational expertise in product innovation with emerging digital-asset strategies, Forward Industries illustrates a hybrid corporate model—anchored in industrial design while embracing blockchain infrastructure.
Its operational history in delivering physical solutions across stringent sectors (like medical devices) may serve as a credible foundation for disciplined treasury management.
The strategic sponsors behind the PIPE bring access to Solana infrastructure, staking mechanisms, advisory frameworks, and trading tools—enabling Forward Industries to participate actively in decentralized finance and generate differentiated on-chain returns.
If executed with governance discipline and transparent communication, this hybrid model could offer leverage between physical innovation and blockchain-based yield generation—albeit with associated sector shifts.
Introducing the Management Team of Forward Industries Inc. (NASDAQ: FORD)
Kyle Samani - Incoming Chairman of the Board
Kyle Samani is the co-founder and Managing Partner of Multicoin Capital, a prominent investment firm specializing in digital assets. Since 2017, he has been a leading investor, thought leader, and policy advisor in the digital asset space, including within the Solana ecosystem. Samani is set to assume the role of Chairman of Forward Industries' Board of Directors upon the closing of the company's $1.65 billion private investment in public equity (PIPE) offering.
Dr. Sharon H. Hrynkow - Lead Independent Director
Sharon H. Hrynkow serves as the Lead Independent Director at Forward Industries. Her extensive experience in the medical and healthcare sectors brings valuable insight to the company's strategic direction. Specific details about her career and contributions can be found on the company's official website.
Keith J Johnson - Independent Director
Keith J. Johnson is an Independent Director at Forward Industries. He has a background in financial and operational management, contributing to the company's governance and oversight.
Sources
- https://forwardindustries.com/
- https://forwardindustries.com/path/to/your-chosen-image.jpg
- https://forwardindustries.com/path/to/logo.png
- https://finance.yahoo.com/quote/FORD/
- https://www.businesswire.com/news/home/20250907677362/en/Forward-Industries-Inc.-Announces-%241.65-Billion-Private-Placement-in-Cash-and-Stablecoin-Commitments-Led-by-Galaxy-Digital-Jump-Crypto-and-Multicoin-Capital-to-Initiate-Solana-Treasury-Strategy
- https://forwardindustries.com/investors/
- https://www.businesswire.com/news/home/20250907677362/en/Forward-Industries-Inc.-Announces-%241.65-Billion-Private-Placement-in-Cash-and-Stablecoin-Commitments-Led-by-Galaxy-Digital-Jump-Crypto-and-Multicoin-Capital-to-Initiate-Solana-Treasury-Strategy
- https://finance.yahoo.com/quote/FORD/profile/
- https://www.encyclopedia.com/books/politics-and-business-magazines/forward-industries-inc
- https://www.reuters.com/markets/companies/FORD.DY/profile
- https://forwardindustries.com/
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Compensation: Pursuant to an agreement between Virtus Media Group, LLC and Forward Industries Inc., Virtus Media Group, LLC has been hired to publicly disseminate information about NASDAQ: FORD via digital communications starting on 9/10/25 and ending after one week. We have been paid $75,000 USD.
