Forward Industries, Inc. (FWDI): debt financing — Forward Industries repurchases 6.16M shares for $27.4M, cuts SG&A 45%, borrows $40M at 3.4%

Forward Industries, Inc.

Repurchased 6,164,324 shares for ~$27.4M from an institutional investor; shares outstanding reduced to 76,977,809.
Borrowed $40M under loan agreement with Galaxy Digital LLC at 3.4% APR, avg maturity 4.9 months, secured by fwdSOL.
SOL-per-share increased from 0.0624 to 0.0662, a 29% annualized increase per company.
Cost reduction plan aims to cut SG&A (excl. stock comp & design) ~45% from $6.5M to $3.6M by fiscal Q3.
Company expects no material charges from the cost reduction plan.

item 1.01 item 2.03 item 7.01 item 2.05 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Forward Industries, Inc. incurred loan of $40,000,000 with Galaxy Digital LLC at weighted average interest rate of 3.4% maturing weighted average maturity of 4.9 months.

Instrument: loan
Principal: $40,000,000
Counterparty: Galaxy Digital LLC
Rate: weighted average interest rate of 3.4%
Maturity: weighted average maturity of 4.9 months
Event: incurrence

Exact text from the filing

The Company entered into multiple term sheets on March 13, 2026, which became effective March 16, 2026 pursuant to the Loan Agreement setting forth the terms of the individual loans for a total of $40,000,000 which have a weighted average maturity of 4.9 months and a weighted average interest rate of 3.4%.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Forward Industries, Inc. entered into Securities Repurchase Agreement with an institutional investor valued at approximately $27.4 million (effective 2026-03-18).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: approximately $27.4 million
Effective: 2026-03-18

Exact text from the filing

On March 18, 2026, Forward Industries, Inc. (the “Company”) entered into a Securities Repurchase Agreement (the “Repurchase Agreement”) with an institutional investor (the “Seller”), pursuant to which the Company repurchased 6,164,324 shares of its common stock (the “Shares”).

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101 debt financings filed in the last 30 days. Browse all debt financings →

Forward Industries, Inc. filing history →

Source: SEC EDGAR

accession 0001683168-26-001997

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