Ah, behold! Forward Industries, Inc., that grand maestro of Solana treasuries, doth now prance upon the stage with a scheme most audacious! 🕺 With Solana’s star ascending in the crypto firmament, they seek to swell their coffers and their holdings, lest they be left to munch on stale baguettes while others feast on caviar. 🥖🍾
A $4B Farce to Fatten the Purse
Lo, Forward Industries hath filed with the U.S. SEC for a $4 billion at-the-market (ATM) equity program-a cunning ploy to peddle shares like a street vendor hawking trinkets. 🎪 What sayest thou? Flexibility, they cry! But doth not flexibility oft lead to folly? 🤔
Their grand design? To squander-er, deploy-these funds on “general corporate purposes.” Ah, yes! Day-to-day drudgery, Solana schemes, and the acquisition of baubles to dazzle the masses. 🏰✨ Or, perchance, to line the pockets of their merry band of directors. 🤑
Cantor Fitzgerald & Co., that trusty jester, shall act as sales agent. 🎭 May the farce commence!
Forward’s Grand Delusion
“Mark well, dear sirs and madams, through this offering, Forward Industries doth acquire a flexible and efficient mechanism to raise and methodically deploy capital in support of our Solana treasury strategy,” proclaimed Kyle Samani, the Chairman of the Board, with a flourish of his quill. 🖋️
He prattled on, boasting of their recent triumph-the largest Solana-focused treasury raise to date, with 6.8 million SOL in their grasp. 🏆 Yet, methinks their hubris may yet be their undoing. 😏
Flexibility, they say? Nay, ’tis but a mask for their insatiable greed! 🤑
The Solana Treasury Follies
According to Lookonchain, six noble houses-er, strategic Solana reserve entities-now hold more than 1 million SOL each. Forward Industries leadeth the pack with 6.82 million SOL, worth a princely $1.58 billion. 🏰 Sharps Technology and DeFi Dev Corp trail behind, their noses pressed to the glass. 🤧
Solana’s Year of Mirth and Mayhem
Galaxy CEO Mike Novogratz, that silver-tongued bard, hath sung Solana’s praises, hailing its speed, capacity, and adoption as the stuff of legend. 🗣️ “Solana, thou art the future of global finance!” he cried, with a tear in his eye. 😢
“Thus, Forward Industries doth pour $1.58 billion into SOL, to build the world’s largest Solana treasury company,” quoth he, with a dramatic flourish. 🎭
The @solana ecosystem hath the potential to shake the very foundations of global capital markets, with its cutting-edge performance and growing adoption. 🌪️ That’s why @FWDind $FORD doth build the world’s largest $SOL treasury.
Pray, heed my words…
– Mike Novogratz (@novogratz) September 15, 2025
Backed by Galaxy, Jump, and Multicoin, Forward Industries tradeth on-chain, staketh SOL for yield, and buildeth infrastructure. 🏗️ Yet, methinks their grand designs may yet crumble like a poorly baked soufflé. 🥘
Solana’s Momentum: ATH or Bust? 🚀
Lark Davis, that merry prognosticator, hath noted Solana’s rapid ascent. 17 treasury firms now hold over 17 million SOL, and Galaxy hath snapped up $1.55 billion in but five days! ⏳ With stablecoin inflows surging, he predicteth SOL shall break $250 and soar to new heights. 🌕
Yet, pray tell, is this but a bubble waiting to burst? 🧼 Only time shall tell, dear reader. Until then, let us watch this comedy of errors unfold with popcorn in hand. 🍿
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2025-09-17 17:03