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      Solana Treasury Company Forward Industries Plans $25 Million Raise to Increase SOL Holdings

      PANews reported on September 23, citing Globenewswire, that Nasdaq-listed Solana treasury company Forward Industries announced it has signed a securities purchase agreement with an institutional investor to issue 3.125 million common shares at $8 per share, with expected gross proceeds of approximately $25 million, before deducting placement agent fees and other offering expenses. The offering is expected to close around September 24.

      Forward Industries stated that the net proceeds will be used to purchase additional SOL to expand its SOL treasury, while also increasing the amount of SOL per fully diluted share. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.


      Source: PANews
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      Terra Founder Do Kwon Sentenced to 15 Years in Prison for Fraud