Forward Industries, Inc. (NASDAQ: FWDI) announced that it has made an indicative, non-binding proposal to acquire the entire issued and to be issued share capital of Brera Holdings PLC in an all-stock transaction. Under the proposal, Brera shareholders would receive 1.54 newly issued shares of Forward common stock for each Brera share, representing a premium of approximately 30.7% to the volume-weighted average closing price of Brera ordinary shares over the 10 trading days ended June 1, 2026, or $7.19 per share.
Forward Industries stated that the proposal was rejected by Brera’s board of directors on June 6, 2026, despite what it described as a compelling opportunity for shareholders to receive a meaningful premium while maintaining exposure to the Solana ecosystem through a larger and more liquid treasury platform. The company said it remains open to further discussions and believes the proposed combination would advance the shared objective of increasing value for shareholders and supporting growth within the Solana ecosystem.
Forward Industries is a Solana-focused digital asset treasury company, with a strategy to buy, hold, stake, trade, invest in, and grow SOL and SOL-related digital assets, protocols, and businesses. The company’s mission is to expand and strengthen the Solana ecosystem by acquiring and staking SOL, and by engaging with, providing tools to, and investing in the Solana network, Solana developers, and Solana-related projects. In connection with a private placement transaction in September 2025, Forward launched its digital asset treasury strategy supported by industry-leading investors and operating partners including Galaxy Digital and Jump Crypto.
The proposed acquisition of Brera Holdings would combine two entities focused on digital assets, potentially creating a larger and more liquid platform for treasury operations within the Solana ecosystem. Forward believes that the combination would enhance shareholder value by pooling resources and expertise. The premium offered reflects Forward’s assessment of the strategic value of Brera’s assets and operations.
Despite the rejection, Forward Industries has expressed its willingness to engage in further discussions with Brera’s board to explore the potential benefits of the transaction. The company remains committed to its growth strategy and to pursuing opportunities that align with its focus on the Solana ecosystem. The outcome of this proposal could have implications for both companies' shareholders and the broader digital asset market.
For more information on Forward Industries’ Solana treasury strategy, visit forwardindustries.com. The latest news and updates relating to FWDI are available in the company’s newsroom at https://ibn.fm/FWDI. The full press release can be accessed at https://ibn.fm/5Ykvd.
