Forward Industries closes $1.65B private placement; appoints new chairman from Multicoin Capital

Forward Industries, Inc.

Gross proceeds of ~$1.65B from PIPE led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
Proceeds primarily to purchase SOL (Solana) for crypto treasury and working capital.
Kyle Samani (Multicoin co-founder) appointed Chairman; Michael Pruitt (interim CEO) appointed to board.
Terminated $35M ELOC agreement with C/M Capital; converted all Series A-1 and Series B preferred stock.
Company engaged Galaxy Digital for asset management and services for treasury strategy.

item 1.01 item 1.02 item 3.02 item 5.02 item 7.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.