According to ChainCatcher news and reported by Businesswire, Forward Industries, Inc. (NASDAQ: FORD) announced that its previously announced private equity investment (PIPE) financing has been successfully completed, led by Galaxy Digital, Jump Crypto, and Multicoin Capital.
This PIPE financing has brought the company approximately 1.65 billion US dollars in total revenue. The company plans to use the net proceeds from this issuance mainly to purchase the native digital asset SOL of the Solana blockchain, as operating capital and funds for any future transactions, to establish the company's cryptocurrency fund operations, and to pay transaction fees. In addition to the more than 300 million dollars subscribed by Galaxy, Jump Crypto, and Multicoin combined, this PIPE also received support and participation from several global investment firms and leaders in the digital asset ecosystem.
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