Forward Industries Closes $25 Million Registered Direct Offering at $8.00 per Share
Forward Industries sold 3,125,000 shares of common stock at $8.00 each in a registered direct offering to one institutional investor, closing on September 24, 2026 for gross proceeds of approximately $25 million before fees. The company said it intends to use the net proceeds mainly to buy additional Solana (SOL), working capital and general corporate purposes, which increases its share count and adds a cash-funded digital asset position.
Key points
- Shares sold: 3,125,000 common shares at $8.00 each; gross proceeds of approximately $25 million before placement agent fees and expenses
- Placement agent A.G.P./Alliance Global Partners receives a 5% cash fee on gross proceeds, plus up to $50,000 in legal expense reimbursement
- Offering closed September 24, 2026 under an effective Form S-3ASR shelf registration (File No. 333-290312)
- Company agreed not to issue additional common stock or equivalents for 15 days after the closing date, subject to limited exceptions
The filing
Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 24, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.