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NEW YORK - Forward Industries, Inc. (NASDAQ:FORD), a design company with a Solana treasury strategy, announced Monday a partnership with financial technology firm Superstate to tokenize FORD shares on the Solana blockchain. The company, currently valued at $2.59 billion, has seen remarkable growth with a 703% return over the past six months, according to InvestingPro data.
As part of the agreement, Forward Industries plans to take an equity stake in Superstate, though specific terms were not disclosed. The partnership will allow stockholders to tokenize and hold their FORD shares on the Solana blockchain through Superstate’s Opening Bell platform.
The company stated that tokenized shares would enable 24/7 trading, real-time settlement, and potentially enhanced global liquidity for FORD stock. Additionally, Forward Industries is working with Solana protocols Drift, Kamino, and Jupiter Lend to establish the tokenized shares as eligible collateral across their systems.
"By bringing public shares of FORD onto the Opening Bell platform and taking an equity stake in Superstate, we are reinforcing our conviction that Solana will sit at the core of capital markets," said Kyle Samani, Chairman of Forward Industries’ Board of Directors, in the press release.
The announcement follows Forward Industries’ recent $1.65 billion private investment in public equity (PIPE) financing that closed on September 11, 2025. The PIPE was led by Galaxy Digital, Jump Crypto, and Multicoin Capital, which collectively subscribed to more than $350 million.
Forward Industries has operated as a design company serving medical and technology companies for over 60 years. In September 2025, the company initiated a Solana treasury strategy focused on acquiring SOL and increasing SOL-per-share through active management.
Superstate’s Opening Bell platform, launched in May 2025, is described as a regulated on-chain issuance platform enabling companies to issue tokenized public equity via blockchain infrastructure.
In other recent news, Forward Industries, Inc. has made significant financial moves to bolster its Solana strategy. The company announced the filing of an automatic shelf registration statement with the SEC for an at-the-market equity offering of up to $4 billion. This move follows their recent acquisition of 6,822,000 Solana tokens, valued at approximately $1.58 billion, as part of their cryptocurrency treasury operations. The acquisition was funded by the proceeds from a $1.65 billion private investment in public equity (PIPE) financing, led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This financing is noted as the largest Solana-focused digital asset treasury raise to date.
Additionally, Forward Industries has completed the conversion of 610 shares of Series A-1 Preferred Stock into 81,333 shares of common stock, under Section 3(a)(9) of the Securities Act of 1933. This transaction reflects ongoing corporate developments, including changes in executive positions and shareholder vote outcomes. The company has also secured commitments amounting to $1.65 billion for its Solana-focused digital asset treasury strategy. These developments highlight Forward Industries’ strategic focus on expanding its presence in the digital asset space.
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