Forward Industries Increases SOL Holdings to 8.73 Million

Forward Industries disclosed that as of November 9, it holds approximately 8.73 million SOL and SOL equivalents, accounting for about 1.5% of the circulating supply of SOL. This quarter, the company increased its holdings by approximately 226,000 SOL at an average cost of $75 (including staking returns). The company secured a $50 million two-year credit line from a federally chartered national bank, using SOL as collateral, with an interest rate of SOFR plus 150 basis points. The funds will be used to advance its SOL++ strategy. Additionally, Forward Industries has committed to invest up to $50 million in the U.S. Housing Price-linked Product (USHP) and has acquired a minority stake in Index Industries.