In brief
- Forward Industries, the largest publicly traded Solana treasury company, filed to raise $4 billion through an at-the-market equity offering to expand its SOL holdings.
- The company’s stock (FORD) fell 8.2% following the announcement, while the proceeds could more than double the $3.1 billion currently held in Solana treasuries.
- DeFi Development Corp. also registered a preferred stock offering with the SEC, following similar funding tactics used by Bitcoin treasury companies like MicroStrategy.
Forward Industries, the newest and largest publicly traded Solana treasury company, has filed to raise $4 billion through an at-the-market equity offering.
For the sake of comparison, this $4 billion raise is nearly the same size as Bitcoin treasury Strategy’s Stride preferred stock raise in July. And it’s double the size of the Strife preferred stock offering the company did in May.
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Author: Stacy Elliott
