Forward Industries Plans to Raise $25 Million to Increase SOL Holdings

Forward Industries (FWDI) announced that it has signed a securities purchase agreement with institutional investors, planning to sell 3.125 million shares of common stock at a price of $8 per share through a registered direct offering, raising approximately $25 million, with the closing expected on September 24. The net proceeds will be used to increase its holdings in SOL, expand its SOL treasury, and enhance the fully diluted per share ownership of SOL. A.G.P./Alliance Global Partners is acting as the exclusive placement agent for this offering.

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