Forward Industries Uses Solana-Backed Loan to Fund Share Buyback

Forward Industries is a publicly traded crypto treasury company centered on Solana. In November 2025, it authorized an ongoing share repurchase program of up to $1 billion. By borrowing against its SOL holdings instead of selling them outright, the company can retain both price exposure and staking income, illustrating how digital assets can be incorporated into traditional corporate capital-allocation strategies.

On March 19, 2026, Forward Industries said it had secured a $40 million loan from Galaxy Digital LLC at an annual interest rate of 3.4%, backed by its holdings of 7,013,536 SOL, then valued at about $613 million. The company will spend approximately $27.4 million to repurchase 6,164,324 shares, reducing its shares outstanding to 76,977,809 after the transaction.