PANews reported on September 11 that according to Businesswire, Forward Industries, Inc. (NASDAQ: FORD) announced that its previously announced private investment in equity (PIPE) financing has been successfully completed, with the financing led by Galaxy Digital, Jump Crypto, and Multicoin Capital. This PIPE financing brought the company approximately US$1.65 billion in total proceeds. The company plans to use the net proceeds from this issuance primarily to purchase SOL, the native digital asset of the Solana blockchain, as working capital and funding for any future transactions, to establish the company's cryptocurrency funding operations, and to pay transaction fees. In addition to Galaxy, Jump Crypto, and Multicoin's combined subscription of over US$300 million, this PIPE also received support and participation from several global investment firms and leaders in the digital asset ecosystem.