FORD

***Sponsored by Virtus Media Group, LLC

Forward Industries Closes $1.65 Billion Private Placement in Cash and Stablecoin Commitments to Advance Solana Treasury Strategy

_____________________________

Hello Everyone,

We have a brand new alert for Monday’s session. This is another company that we have never profiled before. It is priced a bit higher than the companies that we usually bring to your attention.

Just a few weeks ago on August 21st you could have picked up shares of FORD for under $10. Friday it hit $46 and has closed green 13 of the last 16.

What fueled FORD’s massive move is recent news that really caught Wall Street’s attention.

Last Monday they announced a massive private placement followed by the closing just a few days later and the stock went absolutely wild.

Forward Industries Closes $1.65 Billion Private Placement in Cash and Stablecoin Commitments to Advance Solana Treasury Strategy

PIPE Led by Galaxy Digital, Jump Crypto, and Multicoin Capital

Company Intends to Use Net Proceeds Primarily to Fund Purchase of SOL

NEW YORK–(BUSINESS WIRE)– Forward Industries, Inc. (NASDAQ: FORD) (the “Company” or “Forward Industries”) today announced the successful close of its previously announced private investment in public equity (“PIPE”) financing, led by Galaxy Digital (“Galaxy”), Jump Crypto, and Multicoin Capital (“Multicoin”). The PIPE resulted in gross proceeds of approximately $1.65 billion to the Company, before deducting placement agent fees and other offering expenses. Forward Industries intends to use the net proceeds from the offering primarily to purchase SOL, the native digital asset of the Solana blockchain, for working capital and any future transactions, for the establishment of the Company’s cryptocurrency treasury operations, and to pay transaction expenses.

In addition to Galaxy, Jump Crypto, and Multicoin, which collectively subscribed for more than $300 million, the PIPE received support and participation from several global investment firms and leaders across the digital asset ecosystem, including:

• Firms/Companies: Big Brain Holdings, Bitwise Asset Management, Borderless Capital, Coinlist Alpha, CyberFund, C/M Capital Partners, LP, FalconX, Graticule Asset Management Asia, Jupiter, L1 Digital, ParaFi, Ribbit Capital, RockawayX, and SkyBridge Capital.
• Angel Investors: Cindy Leow (Drift), Guy Young (Ethena), Howard Lindzon (Stockwits), Lucas Bruder (Jito), Lucas Netz (Pudgy Penguins), Robert Leshner (Superstate), Tarun Chitra (Gauntlet), and Tory Green (io.net).

Concurrent with the close of the PIPE financing, Kyle Samani, the co-Founder and Managing Partner of Multicoin, has been appointed Chairman of the Company’s Board of Directors (the “Board”). Michael Pruitt, the Company’s Interim Chief Executive Officer, has also been appointed to the Board. Chris Ferraro, President and Chief Investment Officer of Galaxy, and Saurabh Sharma, Chief Investment Officer at Jump Crypto, have also been appointed as Board observers. Forward Industries’ management team will remain in place.

“Today’s milestone underscores our belief among leading institutional investors that Solana belongs at the center of global capital markets. With the support of Galaxy, Jump Crypto, and Multicoin, I believe Forward Industries is uniquely positioned to accelerate this future,” said Mr. Samani. “Leveraging our combined team’s experience investing and innovating across the Solana ecosystem, our goal is to deliver strong value for our shareholders.”

“Forward Industries’ mission has been centered around operational and innovative excellence, and we are now extending that same principle to our capital strategy by building a balance sheet with SOL at its core,” said Mr. Pruitt, Interim Chief Executive Officer of Forward Industries. “We are grateful for the tremendous support of our PIPE financing investors and the collaboration of our partners. Together, we aim to unlock Solana’s potential in the capital markets through diversified and innovative return generation strategies.”

Beyond their capital investment, Galaxy, Jump Crypto, and Multicoin will utilize their industry-leading platforms to provide critical strategic insights to help Forward Industries structure and execute its Solana treasury strategy and with the goal of positioning it as the leading publicly traded institutional participant in the Solana ecosystem.

Solana’s Outstanding Public Market Growth Potential

Solana processed over 8.9 billion transactions in Q2 2025, resulting in approximately $4 billion of decentralized exchange trading volume per day. This activity has generated approximately $1.2B in real economic value (REV) year to date, a metric used to measure the free cashflow of blockchains. Adding more than 7,500 new developers in 2024, Solana is both the blockchain with the fastest growing developer ecosystem and one of the most profitable blockchains in existence.

Solana supports a mature decentralized finance (“DeFi”) ecosystem, creating compelling opportunities to earn on-chain returns through staking, lending, and market making strategies. By establishing a Solana treasury, Forward Industries is positioning itself to benefit from one of the fastest-growing blockchain networks, recognized for its high throughput, developer adoption, and rapidly expanding use cases across DeFi, consumer applications, and Web3 infrastructure.

Advisors

Cantor Fitzgerald & Co. served as the lead placement agent and Galaxy Investment Banking1, a division of Galaxy Digital, served as co-placement agent and financial advisor.

Forward Industries and Galaxy Asset Management, a division of Galaxy Digital, have also entered into a services agreement for management support relating to the treasury strategy.

Nason, Yeager, Gerson, Harris & Fumero, P.A. acted as legal advisor to Forward Industries.

Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Galaxy.

DLA Piper LLP (US) acted as legal advisor to Cantor Fitzgerald & Co.

White & Case LLP acted as legal advisor to Multicoin Capital.

Cooley LLP acted as legal advisor to Jump Crypto.

About Forward Industries, Inc.

Forward Industries, Inc. (NASDAQ: FORD) is a global design company serving top tier medical and technology companies. For over 60 years the company has been successful in developing and producing a portfolio of outstanding products for some of the world’s leading companies and brands. In September 2025, Forward Industries initiated a Solana treasury strategy dedicated to acquiring SOL and increasing SOL-per-share through bespoke strategies and active management of the company’s treasury. The Company’s Solana treasury strategy is supported by industry leading investors and operating partners, including Galaxy Digital, Jump Crypto, and Multicoin Capital.

About Galaxy Digital

Galaxy Digital Inc. (NASDAQ/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we invest in and operate cutting-edge data center infrastructure to power AI and high-performance computing, meeting the growing demand for scalable energy and compute solutions in the U.S. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East and Asia.

About Jump Crypto

Jump Crypto is committed to building and standing up critical infrastructure needed to catalyze the growth of the crypto ecosystem. They are a team of builders, partners, and traders who take a long-term view of crypto’s prospects and operate to unlock the full potential of open, community-driven networks. Since its inception as a skunkworks intern project in late 2015, Jump Crypto has grown into a dynamic and seasoned team of high performing players across a range of functions. Today, Jump Crypto plays an important role in the development of some of the largest and most innovative crypto communities. Jump Crypto is the crypto division of Jump Trading Group, a research-driven quantitative trading firm that’s one of the largest traders by volume across traditional asset classes.

About Multicoin Capital

Multicoin Capital is a thesis-driven investment firm that makes long-term, high-conviction investments in category-defining companies and protocols on behalf of sophisticated families, foundations, endowments, and institutional investors. Founded in 2017, the firm leverages a deep understanding and accumulated knowledge of blockchain technology and crypto markets to deliver strong, risk-adjusted returns. Multicoin Capital manages several billion across its funds, and has established a track record of deploying capital across market cycles in both public and private markets.

FORD is positioning itself as a kind of stand-in for Solana exposure. For equity investors who’d rather avoid holding SOL directly, FORD offers a possible entry point.

SOL itself has climbed nearly 90% in the past six months and is one of the hottest utility tokens out there right now, not to mention a top 10 coin.

What really adds weight to this shift isn’t only the $1.65 billion investment—it’s the backers involved.

Galaxy Digital, with strong Wall Street ties, is one of the most influential firms in the crypto space. The company was an early mover in Bitcoin, Ethereum, and key pieces of institutional blockchain infrastructure.

Jump Crypto, the digital asset arm of Jump Trading, brings the reputation of a high-frequency trading giant known for being both aggressive and highly technical in its approach.

And then there’s Multicoin Capital, which famously went all-in on Solana back when it was still trading in the single digits—an early bet that delivered outsized returns and solidified its reputation as one of the loudest Solana advocates.

_‍

_NEWS

_{‍
Forward Industries Closes $1.65 Billion Private Placement in Cash and Stablecoin Commitments to Advance Solana Treasury Strategy}

_{4 days ago}

_{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}

_{7 days ago}

_{Forward Shareholders Urged to Vote Ahead of August 8th Annual Shareholders Meeting}

_{Jul 30, 2025}

_{Intelligent Product Solutions Joins Zebra Technologies’ PartnerConnect Program}

_{Apr 14, 2025}

_{Intelligent Product Solutions Selected for New York Product Design Award for Its Work on the EON Laser}

_{Jan 30, 2025}

_{Intelligent Product Solutions Promotes Bob Wild To CEO}

_{Jan 14, 2025}

_{Intelligent Product Solutions Partners with The Digital Medicine Society (DiMe) Initiative to Advance Digitally-Enabled Hospital-at-Home Care}

_{Dec 17, 2024}

_{Intelligent Product Solutions Announces that Brad Carlson Joins as VP of Technology and Business Development}

_{Aug 20, 2024}

_{Forward Announces 1-For-10 Reverse Stock Split Effective June 18, 2024}

_{Jun 14, 2024}

_{Intelligent Product Solutions Launches Advanced Concept Studio (ACS) Division Focused on Industrial and UX/UI Design Services}

_{Jun 12, 2024}

SINCERELY,

DISCLAIMER

THIS WEBSITE/NEWSLETTER IS OWNED SUBSIDIARY BY DEDICATED INVESTORS, LLC.

OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF TWENTY THOUSAND USD BY VIRTUS MEDIA GROUP LLC FOR A ONE DAY FORD AWARENESS CAMPAIGN. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: DEDICATED INVESTORS LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD DEDICATED INVESTORS LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. DEDICATED INVESTORS LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND DEDICATED INVESTORS LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD DEDICATED INVESTORS LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.DEDICATED INVESTORS LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. DEDICATED INVESTORS LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, AND DEDICATED INVESTORS LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS. IN PREPARING THIS PUBLICATION, DEDICATED INVESTORS LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, DEDICATED INVESTORS LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. DEDICATED INVESTORS LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS DEDICATED INVESTORS LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. DEDICATED INVESTORS LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.