Forward Industries is pursuing acquisitions of smaller Solana DAT companies as SOL's decline to $74-$85 compresses mNAV ratios across the treasury sector.

Solana Company (HSDT) rejected Forward Industries' $1.63 per share acquisition offer without discussion, marking FWDI's second failed Solana DAT bid in 10

Forward Industries has been unsuccessful on all three recent attempts to combine with rival publicly traded Solana treasury firms.