Investing.com -- Forward Industries Inc (NASDAQ: FWDI) shares rose 7.8% in premarket trading Friday after the company announced it raised its SOL holdings to 8.5 million in the fiscal fourth quarter.

The company increased its SOL and SOL equivalent holdings by 948,601 SOL, or 13%, from 7.6 million as of June 30, 2026 to 8.5 million as of September 30, 2026, representing approximately 1.4% of Solana's circulating supply. The SOL added during the quarter came at an average cost of $83 per SOL.

SOL per share on a fully diluted basis increased to 0.0806 as of September 30, 2026, from 0.0730 as of June 30, 2026, representing quarterly growth of 10.4%, or approximately 42% on an annualized basis. The quarter completed Forward's first full fiscal year executing its Solana focused strategy, over which SOL per share on a fully diluted basis grew 33% from 0.0604 as of September 30, 2025.

While a portion of the quarter's purchases was funded through the sale of FWDI shares, the issuance was accretive for shareholders, according to the company.

Forward's investment in OnRe, the Solana-based tokenized reinsurance platform, grew during the quarter. ONyc's market capitalization increased 40.7% from approximately $203.4 million at the end of June 2026 to approximately $286.2 million as of September 30, 2026.

The company's net asset value stood at $870.4 million as of September 30, 2026, up from $481.3 million as of June 30, 2026. Institutional debt outstanding increased to $167.5 million from $105 million over the same period.

Common shares outstanding rose to 76.3 million from 73.8 million, while fully diluted shares outstanding increased to 105.5 million from 103.5 million.

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