Haciyev Reşit 
Forward Industries Makes Bold Move with $4 Billion ATM Program to Boost Solana Strategy. Forward Industries, Inc. (NASDAQ: FORD) has taken a major step in the crypto and financial world by filing with the U.S. Securities and Exchange Commission (SEC) to launch an at-the-market stock offering (ATM Program) with a total sales price of up to $4 billion. This program aims to strengthen the company’s growth strategy and specifically support its Solana (SOL)-focused treasury plan.
Details of the ATM Program
According to the company, the so-called ATM Shares will be gradually offered for sale depending on market conditions. The net proceeds will be used for:
- Strengthening working capital
- Expanding Solana (SOL) investments and supporting the treasury strategy
- Acquiring new revenue-generating assets
- Capital expenditures and general corporate purposes
This means Forward Industries is pursuing not only traditional corporate growth goals but also a stronger presence in the crypto markets.
Management’s Statement
Kyle Samani, Chairman of the Board of Forward Industries, said:
“With this offering, Forward Industries gains a flexible and efficient mechanism to raise and deploy capital methodically in support of our Solana treasury strategy. Following the completion of the largest Solana-focused digital asset treasury increase to date and our initial acquisition of over 6.8 million SOL, the ATM Program enhances our ability to scale this position, strengthen our balance sheet, and pursue growth initiatives aligned with our long-term vision.”
This highlights the company’s long-term commitment to the Solana ecosystem.
Cantor Fitzgerald Partnership
Forward Industries also announced that ATM shares will be traded in the market under a sales agreement with Cantor Fitzgerald & Co. These transactions will be considered “at-the-market offerings” under U.S. securities law. Cantor, however, is not obligated to sell any specific amount of shares, with sales subject to market conditions.
This model provides flexibility for the company to raise capital as needed.
Forward Industries and Its Solana Strategy
With more than 60 years of experience providing design solutions to medical and technology companies, Forward Industries took a strong step into crypto in September 2025. The company launched a Solana (SOL)-centered treasury strategy, diversifying its portfolio with digital assets.
This strategy has backing from major industry players like Galaxy Digital, Jump Crypto, and Multicoin Capital. The long-term vision is to grow SOL holdings, strengthen the balance sheet, and maximize benefits from Solana ecosystem expansion.
Assessment
Forward Industries’ $4 billion ATM Program is part of its ambition to expand financial strength and scale its Solana-focused strategy. The leadership’s vision positions the company not only in traditional sectors but also at the forefront of blockchain adoption.
For both institutional investors and the Solana community, this move is highly significant. Analysts note that the program strengthens the bridge between digital assets and traditional finance, enhancing Forward Industries’ ability to create long-term value.
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