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Forward Industries Agrees to Buy Back $27.4 Million of Shares
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Forward Industries Agrees to Buy Back $27.4 Million of Shares
Mar 19, 2026 6:23 AM

09:13 AM EDT, 03/19/2026 (MT Newswires) -- Forward Industries ( FWDI ) said Thursday it has agreed to buy back roughly 6.2 million common shares from an institutional investor for $27.4 million.

The company said it obtained a $40 million loan from Galaxy Digital to finance the transaction as well as support its digital asset treasury strategy.

In addition, Forward said it projects operational expenses to drop by around 45% to $3.6 million by fiscal Q3 from $6.5 million in fiscal Q1 due to cost-reduction efforts.

Shares of the company were up 2.1% in Thursday premarket activity.

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