Forward Industries plans to raise $25 million to increase its stake in SOL

Nasdaq listed company Forward Industries announced that it has signed a securities purchase agreement with an institutional investor to issue 3.125 million ordinary shares at a price of $8 per share, with an expected fundraising of $25 million. The issuance is expected to be completed around September 24th, and the net proceeds will be used to purchase SOL to increase the size of the treasury. A. G.P./Alliance Global Partners serves as the sole placement agent for this issuance. (Source: Globenewswire)