Forward Industries (Ford), a listed design and manufacturing company that builds a Solana treasure (soil), has filed a stock program of $ 4 billion in the market (ATM) to the SEC.
The company will use all the funds collected for the working fund, the expansion of companies and to strengthen its holding soil, according to an announcement on Wednesday. The offer gives the front a flexible means of selling new actions gradually via Cantor Fitzgerald, the designated agent of the program.
This stage comes just a few weeks after the front has finished what it says is the greatest increase in the Treasury focused on Solana to date. The company has already acquired more than 6.8 million soil on the back of an agreement of $ 1.65 billion to build the cryptographic treasure.
Kyle Samani, president of Forward, described the automatic counter as “flexible and effective mechanism” to develop the company’s cryptographic strategy and strengthen its balance sheet.
The company seeks to maximize its soil-playing thanks to the active management of the Treasury. Coingecko data show Forward Industries have the largest Treasury in Solana among the listed companies, the 2.02 million Treasury soil finalist Development Corp.
Forward’s share price dropped 9.5% at the start of negotiations at $ 33.70 on Wednesday.
