Forward Industries nearly doubles in value after announcing Solana treasury strategy

Eightco Holdings (Texas)

08/09/2025 12:18

** Shares of product design and engineering co Forward Industries FORD.O jump 95.6% to $32 premarket

** FORD announces $1.65 bln private placement in cash and stablecoin commitments led by digital assets and data center infrastructure firm Galaxy Digital GLXY.O and crypto firms Jump Crypto and Multicoin Capital

** Proceeds from placement to be used to initiate a Solana SOL=CCCL focused crypto treasury strategy

** Multicoin co-founder Kyle Samani, Galaxy's Chief Investment Officer Chris Ferraro and Jump Crypto's Chief Investment Officer Saurabh Sharma set to join FORD's board of directors

** As of Friday's close, FORD had 1.72 mln outstanding shares with a market cap of $28.1 mln, according to LSEG data

** Small public companies have been adding cryptocurrencies to their coffers lately, mimicking Michael Saylor's Strategy MSTR.O - the largest corporate holder of bitcoin

** Separately, Eightco Holdings OCTO.O also triples in value to $4.5 after announcing private placement to initiate a Worldcoin treasury strategy

 (Reporting by Shashwat Chauhan in Bengaluru)

 ((Shashwat.Chauhan@thomsonreuters.com))