Forward Industries completes $1.65 billion private placement to advance Solana's financial strategy

According to ChainCatcher, Forward Industries, Inc. (NASDAQ: FORD) announced that its previously announced private equity investment (PIPE) financing was successfully completed, led by Galaxy Digital, Jump Crypto and Multicoin Capital. The PIPE financing brought the company approximately $1.65 billion in total revenue. The company plans to use the net proceeds from this issuance to purchase SOL, the native digital asset of Solana blockchain, as funds for working capital and any future transactions, to establish the company's cryptocurrency funding operations, and to pay transaction fees. In addition to the combined subscription of more than $300 million to Galaxy, Jump Crypto and Multicoin, the PIPE has also received support and participation from several global investment companies and leaders in the digital asset ecosystem. .