Every 8-K that Forward Industries, Inc. (FWDI) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow FWDI and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FWDI filings page.
Forward Industries, Inc. (FWDI) reported increasing its SOL and SOL-equivalent holdings by 948,601 SOL during its fiscal fourth quarter ended September 30, 2026, to 8,501,298 from 7,552,698 as of June 30, 2026. The company said its holdings represented approximately 1.4% of Solana’s circulating supply. Fully diluted SOL per share reached 0.0806 from 0.0730; the company reported 10.4% quarterly growth and approximately 42% annualized growth. The reported average cost was $83 per SOL, including SOL earned through staking, to which it ascribed no cash cost.
Preliminary, unaudited net asset value was $870,382,702 as of September 30, 2026. The net asset value table lists $1,003,663,266 in SOL treasury fair value, $26,927,436 in other digital assets, $7,292,000 cash and $167,500,000 institutional debt. The SOL treasury figure includes SOL, fwdSOL and pledged SOL, and excludes borrowed SOL. A portion of SOL purchases was funded through FWDI share sales; the company characterized the issuance as accretive, citing the increase in SOL per share. For its first full fiscal year of this strategy, fully diluted SOL per share grew 33% from 0.0604 as of September 30, 2025.
Forward Industries, Inc. completed a registered direct offering on September 24, 2026, selling 3,125,000 shares of common stock to an institutional investor at $8.00 per share. The company received approximately $25,000,000 in gross proceeds before placement-agent fees and other estimated offering expenses. It intends to use net proceeds for the purchase of Solana, working capital and general corporate purposes. The shares were offered under the company’s effective shelf registration statement.
A.G.P./Alliance Global Partners served as the company’s exclusive placement agent. Forward agreed to pay it a cash fee of 5% of gross proceeds and reimburse certain accountable legal expenses up to $50,000 in aggregate. For 15 days after closing, Forward agreed, subject to limited exceptions, not to issue or announce common stock or Common Stock Equivalents, or file a registration statement. From September 22, 2026, until 15 days following closing, it also agreed, subject to exempt issuances, not to effect or agree to an issuance involving a Variable Rate Transaction.
Forward Industries, Inc. (FWDI) announced that it has sent a non-binding proposal to the Board of Directors of SkyAI, Inc. to acquire all of SkyAI’s outstanding common stock in a merger or other tax-efficient combination. SkyAI stockholders could elect to receive cash, Forward common stock, or a mix of both.
Each SkyAI share would be converted into the value of 0.306 Forward shares, a fixed exchange ratio that would not change with either company’s share price. Using Forward’s September 14, 2026 closing price of $6.95, the proposal implies $2.13 per SkyAI share, a 50% premium to SkyAI’s $1.42 closing price that day. Forward requested a response from SkyAI’s board by September 25, 2026.
The proposal remains non-binding and is subject to due diligence, negotiation and execution of a definitive agreement, required regulatory approvals, and approval by SkyAI’s stockholders, and there is no assurance any transaction will be agreed or completed.
Forward Industries, Inc. reported fiscal third-quarter 2026 results showing rapid growth in its Solana-focused treasury business alongside very large GAAP losses driven by digital asset mark-to-market. Revenue for the quarter was $10.8 million, more than four times the prior-year period, primarily from staking and other treasury-related income.
The company increased its Solana exposure, adding 508,618 SOL during the quarter and a further approximately 254,000 SOL after quarter end, bringing holdings to about 7.8 million SOL and equivalents as of August 3, 2026, or roughly 1.3% of Solana’s circulating supply. SOL per share on a fully diluted basis rose 9% quarter over quarter to 0.0730, and to about 0.0754 by August 3.
Forward repurchased 2.56 million shares in the quarter, reducing common shares outstanding to 73.8 million, while also issuing 93,642 shares via an at-the-market program for $435,443 that was reinvested into SOL. GAAP results were heavily affected by a $49.8 million loss on digital assets and a $15.2 million impairment, contributing to a quarterly net loss of $69.0 million and a nine-month net loss of $937.7 million.
As of June 30, 2026, cash was $11.0 million and SOL treasury fair value was $555.3 million, against $105.0 million of debt at a 2.6% weighted average interest rate. Total net asset value was $481.3 million, versus a common equity market capitalization of $311.6 million, implying a discount to stated NAV.
Forward Industries, Inc. appointed Michael Ashe, Chief Strategy Officer of Galaxy Digital Inc., to its Board of Directors effective July 14, 2026. Because the company maintains several commercial arrangements with Galaxy and its affiliates, Ashe may be deemed to have an indirect material interest in these transactions for Item 404(a) of Regulation S-K.
The relationships include a Share Repurchase Program Agreement under which Galaxy Securities LLC may repurchase up to 4,000,000 shares of common stock for a fee of $0.0125 per share; approximately $90,000 of fees have been paid. A Master Digital Currency Loan Agreement with Galaxy Digital LLC has generated approximately $373,000 of interest fees. Written SOL Option Contracts with Galaxy Trading Mercury LLC have resulted in approximately $1,300,000 of premium payments and approximately $3,700,000 to exercise options for approximately 46,000 SOL. Ashe has no family relationships with company leadership, is not assigned to any board committee, is not expected to receive board compensation, and his compensation at Galaxy is not tied to these agreements.
Forward Industries, Inc. disclosed that it made two non-binding, all-stock acquisition proposals that are no longer active. In June 2026 it offered SkyAI, Inc. stockholders 0.367 Forward share per SKYA share, implying about a 20% premium to SKYA’s prior closing price of $1.29, or $1.55 per share; SKYA did not respond before the proposal expired on June 12, 2026. Forward also proposed an all-stock combination with Solana Company (HSDT), offering 0.386 Forward share per HSDT share, a roughly 10% premium to HSDT’s $1.48 closing price, or $1.63 per share, which HSDT’s board formally declined.
The company uses these communications to reiterate its strategy as a Solana-focused digital asset treasury platform. It highlights having assembled a large Solana treasury, staking SOL via validator infrastructure, launching the fwdSOL liquid staking token, and investing in Solana protocols, while cautioning that crypto prices, regulation, and competition create significant risks.
Forward Industries, Inc. disclosed that it has made an indicative, non-binding all-stock proposal to acquire the entire issued and to-be-issued share capital of Brera Holdings PLC (SLMT). The proposal, made on June 1, 2026, offers 1.54 newly issued Forward shares for each SLMT share, implying a value of $7.19 per SLMT share and a premium of about 30.7% to SLMT’s 10-day volume-weighted average price of $5.50. SLMT’s board rejected the approach on June 6, 2026, but Forward disagrees with that assessment and remains open to further discussions under the Irish Takeover Rules timetable, which requires it by July 21, 2026 to either announce a firm intention to make an offer or state that it does not intend to proceed. Forward also highlights its position as a Solana-focused treasury company with what it describes as the largest Solana treasury, and outlines significant outstanding equity instruments, including options, restricted stock units, and warrants alongside its common shares.
Forward Industries, Inc. filed a report describing new equity awards for its recently appointed Chief Financial Officer, Mark Brazier. On April 16, 2026, the board’s Compensation Committee approved grants of company equity to Mr. Brazier, with each award requiring his continued service through the applicable vesting dates. The same equity grants are also treated as an unregistered sale of equity securities for disclosure purposes.
Forward Industries, Inc. appointed Mark Brazier as Chief Financial Officer, effective April 13, 2026, replacing Kathleen Weisberg, who will remain with the company as Director of Financial Reporting. Brazier is 48 and has over 25 years of experience in digital assets and traditional finance.
He previously served as Chief Financial Officer and Head of Regulatory at XBTO Global from 2023 to 2025, and before that as Chief Financial Officer at Stablehouse, a digital asset custody and trading company. Under his offer letter, he will receive a $500,000 annual base salary, a $250,000 target annual bonus tied to performance conditions, and equity awards to be determined subject to Board approval.
Forward Industries, Inc. entered a Securities Repurchase Agreement to buy back 6,164,324 common shares for approximately $27.4 million from an institutional investor, reducing shares outstanding from 83,142,133 to 76,977,809. Management highlights this as increasing SOL-per-share and returning a large block of stock to treasury.
To fund the repurchase, the company executed a Master Digital Currency Loan Agreement with Galaxy Digital LLC, borrowing $40,000,000 at a weighted average annual interest rate of about 3.4% and a weighted average maturity of 4.9 months, secured by fwdSOL treasury holdings and subject to strict overcollateralization and margin call terms.
Forward reports SOL holdings rising to 7,013,536 and fully diluted shares declining to 105,894,207, increasing SOL-per-share from 0.0624 to 0.0662. The company also launched a cost reduction plan, forecasting SG&A (excluding stock-based compensation and design segment SG&A) to fall about 45% from $6.5 million in fiscal Q1 to an estimated $3.6 million by fiscal Q3 through lower fees and operational efficiencies.