Forward Industries closes $25M direct offering at $8.00/share; proceeds to buy Solana

Forward Industries, Inc.

Sold 3,125,000 common shares at $8.00 each; gross proceeds ~$25M before fees and expenses.
Net proceeds primarily to acquire additional SOL, plus working capital and general corporate purposes.
Placement agent A.G.P./Alliance Global Partners earns 5% cash fee; expense reimbursement up to $50,000.
15-day lockup on new equity issuances; variable rate transactions barred until 15 days after closing.
Company aims to grow SOL per share; sees transaction as favorable without ongoing balance sheet obligations.

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