Overview
- Forward disclosed on July 1 that it bought more than 500,000 SOL in fiscal Q3, bringing its total holdings to 7.55 million SOL as of June 30.
- The firm reported the Q3 buys averaged about $79 per SOL and raised SOL per fully diluted share to 0.0729 from 0.0669 in the prior quarter.
- Forward sold 93,642 common shares through its at‑the‑market program during the quarter to raise cash for purchases while trimming share count.
- The company said it can borrow against fwdSOL collateral at rates below staking yields of 6.4%–7.3% to generate positive carry, and it noted recent inclusion in the Russell indexes to broaden institutional access to capital.
- Investors pushed the stock up about 17% after the disclosure, but Forward still carries large unrealized losses from earlier higher‑cost SOL buys and faces governance friction over consolidation attempts and crypto price volatility.