Front industries (Nasdaq: Ford) He has raised $ 1.65 billion in cash and stablecoin commitments through a private investment in public capital (TUBE) Directed by Galaxy Digital, Jump Crypto and Multicoin Capital, which marked the financing of the largest treasure centered in Solana to date.
The company’s shares increased 128% in the negotiation prior to the market, while Sol increased 2.3% after the announcement
The financing will support the plan of the industries forward to become an institutional player that is publicly marketed in the Solana ecosystem. Galaxy and Jump will provide infrastructure and advice services, while Mulicoin, an early sponsor of Solana, provides investment experience, according to a press release from Monday.
The company said that its strategy aims to generate yields in the chain and increase the value of long -term shareholders through active participation in the decentralized financial markets of Solana.
Forward Industries will compete with the tastes of UPEXI INC. (UPXI)which has more than 2 million tokens sun ($ 430 million) and Sharps technology (STSS) After he raised $ 400 million to establish a Solana treasure in August. Another company of the Treasury of Solana, Sol Strategies, which has more than 435k Sol Tokens, said on September 5 that it will go to the list of Toronto to Nasdaq on September 5.
As part of the transaction, the co -founder and managing partner of Multicoin Kyle Samani is expected to become president of the Forward Board. The president of the Galaxy and the CIO Chris Ferraro and the Jump Crypto Cio Saurabh Sharma will join as observers of the Board.
“An institutional treasure can be implemented in a sophisticated manner within the Solana ecosystem to create a differentiated value,” Samani said in a statement.
Forward has also hired Cantor Fitzgerald as a lead placement agent, with Galaxy’s investment bank arm that serves as an agent of placement and financial advisor.
Founded more than 60 years ago as a design company for medical and technology companies, Forward Industries is now repositioning as a Treasury Operator of Digital Assets centered in Solana.
