Forward Industries Plans $27.4 Million Buyback Backed by Galaxy Digital Loan
Forward Industries disclosed holdings of 7,013,536 SOL as of March 18, 2026, while proceeding with a $27.4 million share repurchase financed by a Galaxy Digital loan collateralized by fwdSOL.
SOL
Fact Check
The statement is accurately reflected in official company announcements and widespread financial reporting. Forward Industries (FWDI) confirmed the $27.4 million repurchase of approximately 6.16 million shares, funded by a $40 million loan from Galaxy Digital at a 3.4% interest rate, secured by its Solana (SOL) holdings. This is part of a broader corporate strategy to leverage its digital asset treasury.
Summary
Forward Industries said it held 7,013,536 SOL as of March 18, 2026, an increase of 51,035 SOL from the end of 2025. The Nasdaq-listed company also agreed to repurchase 6,164,324 common shares for $27.4 million using a $40 million digital asset loan from Galaxy Digital collateralized by fwdSOL. Earlier company disclosures said the loan carries a 3.4% interest rate and a maturity of about 4.9 months, and that the structure is intended to preserve its SOL holdings and staking rewards while completing the buyback.
Terms & Concepts
- SOL: The native token of the Solana blockchain, used for transaction fees, staking, and other network activity.
- fwdSOL: A tokenized or designated SOL-based collateral asset referenced by Forward Industries for its Galaxy Digital loan.
- staking rewards: Token earnings received for participating in blockchain validation or related network support activities.