- The crypto market as a whole goes through many ups and downs, and the current prices provide a unique opportunity for investors to buy low.
- In addition to investors taking advantages of prices, companies see a chance to manage their own shares, such as Forward Industries, a company building and managing a large-scale Solana treasury.
- Specifically, Forward Industries recently entered into an agreement to repurchase shares from an institutional investor.
Solana and the rest of the crypto market has gone through many ups and downs over the last few years. The current volatility and pressures in the market, encouraged by ongoing geopolitical factors, have led to attractive entry prices for those looking to get involved with crypto. Current prices, along with growing concern about the future of the USD and other fiat currencies, provide a unique buy-low opportunity for investors who either missed out on getting in on crypto before, or are looking to increase their investment in the space.
In addition to individual investors taking advantage of the current prices, some companies in the space, such as Forward Industries Inc. (NASDAQ: FWDI) have entered into repurchase agreements. Forward Industries builds, operates, and manages a large-scale Solana (SOL) treasury, and is backed by many of the most influential investors in the digital space. Recently, the company announced a strategic share repurchase where it bought back over 6 million common shares of its common stock from an institutional investor (https://ibn.fm/WbISU), for a total price of $27.4 million.
This share repurchase takes advantage of the current low prices as an opportunity to buy back shares at a discount and return a meaningful block of shares to the treasury. The move also helps shareholders by reducing outstanding shares from 83,142,133 to 76,977,809.
Speaking about the share repurchase, the Chief Investment Officer of Forward Industries, Ryan Navi, said that “By repurchasing shares at a discount to both our net asset value and current market price, and by securing attractively priced financing that allows us to maintain staking rewards on our collateral, we are able to return a meaningful block of shares to our treasury while continuing to compound our digital asset holdings. We believe this structure reinforces our disciplined approach to capital allocation and our commitment to maximizing long-term value for Forward shareholders.”
In addition to operating a SOL treasury, Forward Industries actively participates in the Solana ecosystem. Specifically, it looks to create value by accumulating SOL and deploying assets strategically through on-chain opportunities like staking, lending, and participating in decentralized finance (“DeFi”).
Currently, Forward Industries has more than 6.9 million SOL in total holdings, and has a validator infrastructure that has generated between 6.5% and 7.2% gross annual percentage yield before fees, which outperforms many peer validators.
About Forward Industries Inc. (NASDAQ: FWDI)
Forward Industries is a company that’s building and managing a large-scale Solana (SOL) treasury. Backed by some of the most influential investors in the digital asset space, Forward Industries creates long-term shareholder value by actively participating in the Solana ecosystem. Specifically, Forward Industries is accumulating SOL and strategically deploying it through various on-chain activities like staking, lending, and participating in decentralized finance (“DeFi”).
For more information, visit the Forward Industries website at www.ForwardIndustries.com.
NOTE TO INVESTORS: The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI
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