FWDI · Forward Industries, Inc.

Summary

Forward Industries, Inc. repurchased 6,164,324 shares of common stock for $27,369,598.56 from an institutional investor via a Securities Repurchase Agreement dated March 18, 2026, financed by a $40 million loan facility under a Master Digital Currency Loan Agreement with Galaxy Digital LLC effective March 16, 2026. The transactions reduce shares outstanding and support the digital asset treasury strategy, accompanied by a cost reduction plan targeting 45% lower SG&A expenses.

Key takeaways

• Repurchased 6,164,324 shares originally from September 2025 private placement for $27,369,598.56
• $40,000,000 total loans via multiple term sheets with weighted average maturity of 4.9 months and 3.4% interest rate
• Loans collateralized by fwdSOL at initial 211% level, margin calls at 174% and urgent 136%
• Reduces common shares outstanding from 83,142,133 to 76,977,809
• Increases SOL-per-share from 0.0624 (as of Dec 31, 2025) to 0.0662 (as of Mar 17, 2026)
• Cost reduction plan includes lower fees to Galaxy Digital L.P., legal, marketing, vendors; SG&A to decline 45% from $6.5M in Q1 to $3.6M in Q3