Forward Industries, a publicly traded Solana treasury company, plans to raise $4 billion through an equity offering, doubling its previous stock offerings. The funds will be used for working capital, Solana token strategy, and acquiring income-generating assets. The stock price initially dropped 8.2% but recovered to $34.28.

The company’s goal is to increase its Solana holdings significantly by selling all shares. Currently, $3.1 billion worth of Solana is held in treasuries. Market predictors believe SOL will hit $250 before dropping to $130 again. Solana is currently priced at $235.45, with a 1.2% gain in the last day.

Forward Industries has appointed Cantor Fitzgerald as the sale agent for the offering, with a 3% fee. The company’s automatic shelf registration on its S-3 form is already effective, allowing shares to be traded once sold. Chairman Kyle Samani expressed confidence in the company’s ability to strengthen its balance sheet and pursue growth initiatives through the offering.

DeFi Development Corp. has also registered a preferred stock offering with the SEC, following the footsteps of other Solana treasury companies. The Series C offering mirrors Bitcoin’s funding tactics and will pay quarterly dividends at a fixed rate. The shares are expected to be listed on Nasdaq Capital Markets.

DFDV shares, traded on NasdaqCM, are currently priced at $17.40, 4.3% lower than the previous close. The new preferred shares are similar to MSTR’s Stride offering, featuring cumulative dividends and optional conversion. DeFi Development Corp. has not disclosed further details about the offering at this time.

Read more at Yahoo Finance: Solana Treasury Firm Holdings Could Double as Forward Industries Unveils $4 Billion Raise