Forward Industries Raises $1.65B PIPE to Build Solana Treasury — Galaxy Digital, Jump Crypto & Multicoin Lead

COINOTAG reported on September 11 that Forward Industries (Nasdaq: FORD) completed a $1.65 billion committed private placement, raising cash and stablecoin subscription funds via a Private Investment in Public Equity (PIPE) to pursue a Solana-centric treasury approach.

Forward Industries announced on September 8 that the transaction included lead allocations from Galaxy Digital, Jump Crypto and Multicoin Capital, with proceeds denominated in both fiat and stablecoins to support its planned digital asset allocations.

The committed financing enhances the company’s liquidity profile and supplies dedicated capital to implement its stated digital asset treasury strategy on Solana, reflecting material institutional participation in the PIPE execution.