---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-006838"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2025-09-11T23:59:59+00:00"
generated_at: "2026-05-17T06:55:35.377066+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001683168-25-006838
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2025-09-11T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316825006838/0001683168-25-006838-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316825006838/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-006838
- JSON: https://secwatch.observer/filing/0001683168-25-006838.json
- Plain text: https://secwatch.observer/filing/0001683168-25-006838.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.