AUSTIN, TX, June 15, 2026 (GLOBE NEWSWIRE) — Forward Industries, Inc. (NASDAQ: FWDI) right now confirms that it made a non-binding proposal to the Board of Administrators of Solana Company concerning an all-stock enterprise mixture. On June twelfth, HSDT responded that its board voted to decline Forward’s supply and selected to not interact in additional dialogue. We’re disenchanted and stunned that the HSDT board has chosen to reject Forward’s supply with none dialogue or communication. We consider that opening up a dialogue is in the perfect curiosity of each corporations and their respective shareholders.
Why Forward exists
Forward was constructed to advance Solana and to create worth for our shareholders by providing a differentiated public-markets car for publicity to SOL and the expansion of the Solana ecosystem. Since launching our treasury technique in September 2025, now we have assembled the biggest Solana treasury on the earth, staked the bulk of our SOL to our high-performance validator infrastructure, launched fwdSOL as a liquid staking token, and begun deploying capital instantly into Solana protocols as an investor and liquidity supplier. Forward is taking a primary ideas strategy to fulfilling its long-term imaginative and prescient of changing into the Berkshire Hathaway of Solana whereas concurrently reaching our brief and medium-term aim of compounding SOL per share materially quicker than the SOL staking charge and pushing the Solana ecosystem ahead as an entire.
Why we approached HSDT
We respect the HSDT workforce and know we share a typical aim of accelerating the expansion and adoption of the Solana ecosystem whereas additionally creating shareholder worth. With that stated, we consider the present market surroundings necessitates cooperation and strategic motion to ship on guarantees made to our shareholders and to drive that imaginative and prescient ahead.
Beneath our proposal, HSDT stockholders would obtain 0.386 newly-issued shares of Forward frequent inventory for every share of HSDT frequent inventory, representing a premium of roughly 10% to HSDT’s closing share worth of $1.48 on the day instantly previous the date of our proposal, or $1.63 per share. We made this proposal as a result of we consider Forward is a robust accomplice for HSDT and its stockholders, and that the HSDT workforce can be complimentary to Forward and our shareholders. Collectively, our mixed scale, experience within the Solana ecosystem, and mixed efforts will enable us to understand and maintain the worth embedded in our corporations extra successfully than HSDT can on a standalone foundation. Our proposal is designed to ship HSDT stockholders a significant premium to current buying and selling ranges, alongside continued — and we consider extra liquid — publicity to Solana via Forward shares, that are set to be a part of the Russell 2000 and 3000 indices within the coming weeks.
“We now have nothing however respect for the HSDT workforce and what they’ve constructed within the Solana ecosystem up to now,” stated Ryan Navi, Chief Funding Officer of Forward Industries. “We consider that combining our efforts with HSDT’s can be mutually useful for each corporations, their stockholders, and the broader Solana group. We approached HSDT as companions, in good religion, as a result of we consider our two corporations share much more frequent floor than not. Like us, they made a promise to each their shareholders and the Solana ecosystem, and we consider {that a} mixed firm can higher ship on these guarantees.”
Media Contact
comms@forwardindustries.com
Investor Relations
Elevate IR
ir@forwardindustries.com
Source link
#Industries #Announces #Letter #Intent #Acquire #Solana #Company #HSDT
