Forward Industries spends $1.58 billion to acquire over 6.82 million SOL

ChainCatcher News, according to market sources, Forward Industries announced the purchase of 6,822,000 Solana (SOL) at an average price of $232 per token, with a total amount of approximately $1.58 billions.

This transaction marks the first deployment of the company's $1.65 billions PIPE financing, which is led by Galaxy Digital, Jump Crypto, and Multicoin Capital. All SOL acquired by Forward Industries have been staked, with part of the transaction completed through the Solana on-chain platform DFlow. The company plans to increase the per-share value of SOL through active management and on-chain operations.