Solana treasury company Forward Industries repurchased over 6 million shares from institutional investors for $27.4 million, representing approximately 7.4% of circulating shares, with funds sourced from a $40 million crypto-collateralized loan provided by Galaxy Digital (secured by staked SOL). The company stated it will prioritize share buybacks when stock prices are significantly below net asset value to enhance SOL per share benefits, rather than directly increasing spot holdings. Currently, it holds approximately 7 million SOL, with approximately $1.1 billion in unrealized losses. (Decrypt)

SOL-0,53%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

2 Likes