Forward Industries announced a $1.65 billion private placement to launch the Solana financial strategy

ChainCatcher news, according to Businesswire, global design company Forward Industries, Inc. (NASDAQ: FORD) announced a commitment of $1.65 billion in cash and stablecoins for a private equity investment ("PIPE") led by Galaxy Digital, Jump Crypto, and Multicoin Capital, to launch a Solana-focused digital asset fund management strategy, aligning the company with the rapidly growing Solana ecosystem.

One of the company's existing largest shareholders, C/M Capital Partners, LP, is also participating in this transaction. Galaxy, Jump Crypto, and Multicoin will provide funding and strategic support to help Forward Industries build and execute its Solana financial strategy.